Boer Power Holdings Limited provided Group earnings guidance for the six months ended 30 June 2018. The board of directors of the Company informed the shareholders of the Company (the "Shareholders") and the potential investors that, the Company has decided to make a substantial impairment provision for bad debts (the "Provision") of the trade receivables, loans to customers and retention receivables (the "Receivables") for at least RMB 200 million during the six months ended 30 June 2018. As a result, the Group expects to record a substantial loss for the six months ended 30 June 2018. The Company has decided to make the Provision on the basis that the timing of realising those Receivables is uncertain, and the increased aging of those Receivables for the six months ended 30 June 2018. Moreover, the recovery process of some of the Receivables is slower than expected.

The Board also informed the Shareholders and the potential investors that the Group has recently won two tenders for two scalable projects in the People's Republic of China. One of the projects involves construction of low voltage environmentally controlled switchgear for the line No. 1 of the metro system in Qingdao City of the Shandong Province, with a contract value of approximately RMB 70 million. The other project involves construction of low voltage intelligent power distribution solutions of a newly developed Waigaoqiao Data Center located in Shanghai for GDS Services Holdings Limited, a long-term customer of the Group, with a contract value of approximately RMB 20 million.