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HUOBI TECHNOLOGY HOLDINGS LIMITED
(Incorporated in the British Virgin Islands with limited liability)
(Stock code: 1611)
POSITIVE PROFIT ALERT
FOR THE SIX MONTHS ENDED 31 MARCH 2021
This announcement is made by Huobi Technology 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 Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Future Ordinance (Chapter 571 of the Laws of Hong Kong).
The board of directors (the "Board") of the Company wishes to inform the shareholders of the Company ("Shareholders") and potential investors that based on the preliminary review of the unaudited consolidated management accounts of the Group for the six months ended 31 March 2021 (the "Period") and the information currently available to the Company, the Group is expected to record a net profit before income tax within a range of approximately HK$65.0 million to HK$85.0 million for the Period, as compared to a net loss before income tax of HK$30.1 million for the six months ended 31 March 2020. The expected turnaround from net loss to net profit before income tax for the Period was mainly attributable to:
an increase in revenue and gross profit in the manufacturing business of the Group during the Period as a result of the market recovery from COVID-19 epidemic; and
a significant increase in revenue and gross profit in the provision of technology solution services business of the Group during the Period due to the bloom of the virtual asset market.