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SUPPLEMENTARY ANNOUNCEMENT -
POSITIVE PROFIT ALERT
This announcement is made by China Shuifa Singyes Energy Holdings 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 XIV of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).
Reference has been made to an announcement of the Company dated 30 July 2020 (the "Announcement"). After considering the gain arising from the open offer, repurchase and cancellation of senior notes as disclosed in the Announcement, The board (the "Board") of directors (the "Directors") of the Company wishes to inform the shareholders of the Company and potential investors that based on a preliminary review on the unaudited consolidated management accounts of the Group for the six months ended 30 June 2020 and information currently available to the Company, the Group expects the profit for the period attributable to owners of the Company for the six months ended 30 June 2020 would be ranging from RMB180 million to RMB220 million, while the Group recognised a loss attributable to the owners of the Company of RMB468 million in the six months ended 30 June 2019. The substantial improvement in business of the Group was mainly because of the increase in gross profit of the Group's EPC business after the completion of the debt restructuring in November 2019.