China Technology Industry Group Limited provided group earnings guidance for the nine months ended December 31, 2021. The board of directors of China Technology Industry Group Limited inform the shareholders and potential investors of the company that, based on information currently available, the Group is expected to record a revenue of approximately RMB 68.2 million for the nine months ended 31 December 2021 representing a decrease in revenue of approximately 68.5% as compared with the revenue of approximately RMB 216.5 million for the nine months ended 31 December 2020. The gross profit margin dropped from approximately 19.8% for the third quarter of 2020 to approximately 12.9% for third quarter of 2021.

As a result of the above, it is expected that the Group will record a loss attributable to the owners of the company for the third quarter of 2021 of approximately RMB 1.4 million, as compared to a profit attributable to owners of the company for the third quarter of 2020 of approximately RMB 65.5 million. The decrease in revenue was mainly attributable to the decrease in sales of wind power related products of approximately RMB 82.9 million during 2021 third quarter, where there was substantial revenue generated therefrom during 2020 third quarter (2020: RMB 144.9 million), and the decrease in sales of solar power related products of approximately RMB 65.4 million during 2021 third quarter (2020: RMB 71.6 million). The slight decrease in the gross profit margin was mainly due to additional design costs for renewable energy products during 2021 third quarter (2020: Nil).

The expected loss attributable to owners of the company for 2021 third quarter in the amount of approximately RMB 1.4 million was mainly attributable to the decrease in revenue of the group during 2021 third quarter.