Hong Kong Exchanges and Clearing : UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2019

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Add New Energy Investment Holdings Group Limited

愛 德 新 能 源 投 資 控 股 集 團 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 02623)

UNAUDITED INTERIM RESULTS

FOR THE SIX MONTHS ENDED 30 JUNE 2019

FINANCIAL HIGHLIGHTS

The Group recorded revenue of approximately RMB152.2 million for the six months ended 30 June 2019, representing an increase of approximately 148.7% over the revenue of approximately RMB61.2 million for the six months ended 30 June 2018.

The Group's total comprehensive loss attributable to owners of the Company decreased by approximately 14.8% from approximately RMB36.3 million for the six months ended 30 June 2018 to approximately RMB30.9 million for the six months ended 30 June 2019.

UNAUDITED INTERIM RESULTS

The board (the "Board") of directors (the "Director(s)") of Add New Energy Investment Holdings Group Limited (the "Company") announces the unaudited interim results of the Company and its subsidiaries (the "Group") for the six months ended 30 June 2019 together with the comparative figures for the corresponding period in 2018. The unaudited interim financial information has not been audited but has been reviewed by the audit committee of the Company (the "Audit Committee").

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UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENT OF TOTAL COMPREHENSIVE INCOME

For the six months ended 30 June 2019

(Amounts expressed in thousands of RMB, except for per share data)

		Six months ended 30 June
	Notes	2019		2018
		(unaudited)	(unaudited)
Revenue	6	152,215		61,206
Cost of sales		(151,328)	(60,105)
Gross profit		887		1,101
Distribution costs		(198)	(206)
Administrative expenses		(23,357)	(26,836)
Reversal of impairment losses of assets	7	3,160		5,050
Other income		-	2,130
Other gains - net		298		47
Operating loss		(19,210)	(18,714)
Finance income	8	47		1,638
Finance expenses	8	(7,375)	(10,947)
Finance expenses - net		(7,328)	(9,309)
Loss before income tax		(26,538)	(28,023)
Income tax expense	9	(852)	(2,467)
Loss for the period		(27,390)	(30,490)

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		Six months ended 30 June
	Note	2019	2018
		(unaudited)	(unaudited)
Other comprehensive income:
Item that will not be reclassified to profit or loss
Change in the fair value of financial assets		(3,545)
at fair value through other comprehensive income		(5,820)
Other comprehensive loss for the period		(3,545)	(5,820)
Total comprehensive loss for the period		(30,935)	(36,310)
Losses per share for loss attributable to owners
of the Company (expressed in RMB per share)		(0.006)
Basic losses per share	10	(0.007)

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UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 30 June 2019

(Amounts expressed in thousands of RMB)

		As at	As at
		30 June	31 December
	Notes	2019		2018
		(unaudited)	(audited)
ASSETS
Non-current assets
Property, plant and equipment		259,782		265,714
Intangible assets		-	-
Investments accounted for using the equity method		1,100		1,100
Financial assets at fair value through other
comprehensive income		5,474		9,019
Right-of-use assets		3,803		-
Other non-current assets		10,959		10,901
		281,118		286,734
Current assets
Inventories		44,069		79,687
Trade receivables	12	13,885		23,224
Notes receivables		19,057		18,450
Prepayments and other receivables	13	61,191		25,527
Cash and cash equivalents		20,380		33,431
Term deposits		30,000		30,000
Restricted bank deposits		8,678		3,424
		197,260		213,743
Total assets		478,378		500,477
EQUITY
Equity attributable to owners of the Company
Share capital and share premium		670,992		670,992
Reserves		(23,062)	(19,517)
Accumulated losses		(368,377)	(340,987)
Total equity		279,553		310,488

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		As at		As at
		30 June		31 December
	Note	2019	2018
		(unaudited)		(audited)
LIABILITIES
Non-current liabilities
Borrowings		118,297	115,995
Provisions for close down, restoration and
environmental costs		9,558	9,357
Non-current portion of lease liabilities		3,441		-
Deferred income		349	386
Deferred income tax liabilities		6,265		5,413
		137,910	131,151
Current liabilities
Trade payables	14	7,829	12,377
Contract liabilities		5,064	168
Current portion of lease liabilities		1,004		-
Accruals and other payables		46,979	46,254
Current portion of long-term liabilities		39		39
		60,915	58,838
Total liabilities		198,825	189,989
Total equity and liabilities		478,378	500,477

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