Xiwang Property : Announcements and Notices - Profit Alert

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XIWANG PROPERTY HOLDINGS COMPANY LIMITED

ГˮໄุછٰϞࠢʮ̡ *

(Incorporated in Bermuda with limited liability)

(Stock Code: 2088)

PROFIT ALERT

This announcement is made by Xiwang Property Holdings Company Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board (the "Board") of directors (the "Directors") of the Company wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that, based on the preliminary review of the unaudited management accounts of the Group for the year ended 31 December 2018 and information currently available to the Board, the Group expects a turnaround of its result by recording a net profit for the year ended 31 December 2018 as compared to a net loss for the year ended 31 December 2017. The turnaround of the Group's results was mainly attributable to the substantial increase in other income which was mainly due to the compensation income of approximately RMB48,000,000 received during the year ended 31 December 2018.

The Company is still in the process of finalising the results of the Group for the year ended 31 December 2018. The information contained in this announcement is only a preliminary assessment made by the Board based on unaudited management accounts of the Group for the year ended 31 December 2018 which have not been audited or reviewed by the Company's auditors, and is subject to finalization and adjustments. Further details and the financial results of the Group for the year ended 31 December 2018 will be disclosed when the Group publishes its annual results which is expected to be released in March 2019.

*For identification purpose only

Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company.

By Order of the Board

Xiwang Property Holdings Company Limited

WANG Di

Chairman

Hong Kong, 21 January 2019

As at the date of this announcement, the Board comprises the following Directors:

Executive Directors:

Mr. WANG Jin Tao Mr. WANG Wei Min

Independent non-executive Directors: Mr. WONG Kai Ming

Mr. WANG An

Mr. WANG Zhen

Non-executive Directors: Mr. WANG Di

Mr. WANG Yong Mr. SUN Xinhu