China Singyes Solar Technologs Hldgs : Profit Alert

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China Singyes Solar Technologies Holdings Limited

中國興業太陽能技術控股有限公司

(incorporated in Bermuda with limited liability)

(Stock code: 750) PROFIT ALERT

This announcement is made by the Company pursuant to Inside Information Provisions under Part XIVA of the SFO and Rule 13.09(2)(a) of the Listing Rules. The Board wishes to inform the shareholders and potential investors of the Company that, based on the preliminary assessment of the unaudited consolidated management accounts of the Group, it is expected that the Group's interim results for the period ended 30 June 2017 would record a considerable decrease in the consolidated profit attributable to the owners of the Company for about 75% as compared to that for the period ended 30 June 2016. This announcement is only based on the preliminary finance information of the Group prepared by the management and has not yet been reviewed or confirmed by the auditor of the Group.

This announcement is made by China Singyes Solar Technologies Holdings Limited (the "Company", together with its subsidiaries the "Group") pursuant to the Inside Information Provisions (as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules")) under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong) (the "SFO") and Rule 13.09(2)(a) of the Listing

Rules.

The board of directors (the "Board") of the Company wishes to inform the shareholders of the Company and potential investors that, based on the preliminary assessment of the unaudited consolidated management accounts of the Group, it is expected that the Group's interim results for the period ended 30 June 2017 would record a decrease in the consolidated profit attributable to the owners of the Company for about 75% as compared to that for the period ended 30 June 2016.

Based on preliminary assessment, such considerable decrease in the Group's consolidated profit was primarily attributable to the following factors:

1. No disposal gain on solar farms during the period (period ended 30 June 2016: RMB144 million);

2. Additional interest expenses were incurred because of the issuance of USD260 million senior notes in February 2017;

3. Additional hedging costs were incurred to hedge against the currency risk; and

4. Decrease in fair value gain on convertible bonds and the imputed interested accelerated amortization on repurchase of convertible bonds.

The Group's normal business operation continues to maintain healthy growth. The demand for the Group's solar EPC and curtainwall and green building business remain strong. Based on the preliminary consolidated management accounts of the Group, the revenue is expected to have a stable growth with no material change in gross profit margin level, and there was no material increase in selling and administrative expenses level.

The Company is still in the process of finalizing the interim results for the period ended 30 June 2017. As such, the information contained in this announcement is only based on the preliminary assessment by the Board with reference to the consolidated management accounts of the Group for the period ended 30 June 2017 currently available, and is not based on any information or figures which have been reviewed by the Company's auditors or the audit committee of the Board. Shareholders and potential investors of the Company are advised to peruse with care the interim results announcement of the Company for the period ended 30 June 2017, which is expected to be released in late August 2017.

By order of the Board

China Singyes Solar Technologies Holdings Limited Liu Hongwei

Chairman

Hong Kong, 22 August 2017

As at the date of this announcement, the executive Directors are Mr. Liu Hongwei and Mr. Xie Wen, the non-executive Directors are Dr. Li Hong and Mr. Cao Zhirong and the independent non-executive Directors are Dr. Wang Ching, Mr. Yick Wing Fat, Simon and Dr. Zhong Jishou.