Huobi Technology : POSITIVE PROFIT ALERT FOR THE SIX MONTHS ENDED 31 MARCH 2021

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HUOBI TECHNOLOGY HOLDINGS LIMITED

火幣科技控股有限公司

(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:

1. 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
2. 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.

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The information contained in this announcement is only a preliminary assessment by the Board and the management of the Company based on the unaudited consolidated management accounts of the Group and the information currently available to the Company. Such unaudited consolidated management accounts have not been reviewed, confirmed or audited by the Company's auditors or reviewed by the audit committee of the Company. The Company is still in the process of finalising the interim results of the Group for the Period, therefore the finalised interim results for the Period may differ from the information disclosed in this announcement. The unaudited interim results of the Group for the Period are expected to be announced by late May 2021.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

HUOBI TECHNOLOGY HOLDINGS LIMITED

Li Lin

Executive Director

Hong Kong, 10 May 2021

As at the date of this announcement, the Board comprises (1) Mr. Li Lin as executive Director; and (2) Mr. Duan Xiongfei, Mr. Yip Wai Ming and Mr. Ngai Matthew Cheuk Yin as independent non-executive Directors.

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