Doumob : UPDATE ON PROFIT WARNING

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Doumob

豆 盟 科 技 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 1917)

UPDATE ON PROFIT WARNING

This announcement is made by Doumob pursuant to Rule 13.09 of the Listing Rules and the Inside Information Provisions. Unless otherwise specified, capitalised terms used herein shall have the same meanings as defined in the profit warning announcement of the Company dated 30 June 2020 ("Previous Announcement"). The Company issues this announcement for the purpose of providing an update on the profit warning as disclosed in the Previous Announcement.

As disclosed in the Previous Announcement, the estimated unaudited loss after tax for the five months ended 31 May 2020 shall be approximately RMB15.07 million based on (a) the management accounts of the five months ended 31 May 2020 which was not audited, confirmed or reviewed by the auditor or the audit committee of the Company, and (b) the information available before the time of publication of Previous Announcement.

Based on the preliminary review by the Board on the latest unaudited management accounts of the Group for the six months ended 30 June 2020 ("Interim Period"), the Board wishes to update Shareholders and potential investors that the Group is expected to record a loss and total comprehensive loss attributable to owners of the Company of approximately between RMB27 million and RMB29 million for the Interim Period, whereas the Group recorded profit and total comprehensive income attributable to owners of the Company of approximately RMB23.78 million during the six months ended 30 June 2019.

In addition to the factors as disclosed in the Previous Announcement, the loss and total comprehensive loss attributable to owners of the Company was also attributable to provision of the expected credit losses on accounts receivable and contract assets in accordance with the HKFRS

9. Due to the difficult economic environment amid lingering impact of the Novel Coronavirus pandemic, the Company prudently engaged an independent professional valuer to assess the impairment loss on the Group's accounts receivables and contract assets. Based on the preliminary results of the assessment, the Company is expected to make provisions on certain accounts receivables and contract assets.

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The information contained in this announcement is only based on a preliminary assessment by the Board which is based on the unaudited consolidated management accounts for the Interim Period, unfinalized evaluation results and the information available for the time being, which have not been audited, confirmed or reviewed by the auditor or the audit committee of the Company. The Group's interim results for the Interim Period is scheduled to be announced on 28 August 2020.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company and read the announcement of the interim results of the Company for the Interim Period carefully when it is published.

By order of the Board

Doumob

YANG Bin

Chairman and Executive Director

Beijing, PRC, 19 August 2020

As at the date of this announcement, the executive directors of the Company are Mr. Yang Bin, Mr. Huang Kewang and Ms. Luo Yanhong; the non-executive director of the Company is Mr. Liu Ailun; and the independent non-executive directors of the Company are Mr. Chan Yiu Kwong, Mr. Liu Binghai and Mr. Wang Yingzhe.

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