Zhejiang Tengy Environmental Technology Co. Ltd. provided unaudited consolidated earnings guidance for the six months ended 30 June 2022. For the period, the Group is expected to record a net profit of approximately RMB 9.02 million for the six months ended 30 June 2022 as compared to the net profit of approximately RMB 1.52 million for the six months ended 30 June 2021, representing an increase of approximately 494.66%.

The Board considered that the aforesaid increase in the net profit was mainly attributable to (i) the increase in revenue for the six months ended 30 June 2022 due to completion of a number of large-scale projects; and (ii) the decrease in the price of raw materials of the products produced by the Company. The Company is still in the process of finalising the financial results of the Group for the six months ended 30 June 2022. The information contained in this announcement is only a preliminary assessment based on the unaudited consolidated management accounts of the Group and the information currently available for the time being, which have not been audited nor reviewed by the Company's auditors and have not been confirmed by the audit committee of the Board and is subject to adjustments.

The financial results of the Group for the six months ended 30 June 2022 will be set out in the interim results announcement of the Company to be published by the end of August 2022.