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    2337   KYG9354A1031

UNITED STRENGTH POWER HOLDINGS LIMITED

(2337)
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United Strength Power : POSITIVE PROFIT ALERT FOR THE SIX MONTHS ENDED 30 JUNE 2021

08/03/2021 | 06:11am EST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

UNITED STRENGTH POWER HOLDINGS LIMITED

眾 誠 能 源 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2337)

POSITIVE PROFIT ALERT

FOR THE SIX MONTHS ENDED 30 JUNE 2021

This announcement is made by the board (the "Board") of directors (the "Directors") of United Strength Power Holdings Limited (the "Company", which together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the inside information provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The Board wishes to inform shareholders and potential investors of the Company that, based on the Board's preliminary assessment of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2021, the Group is expected to record a net profit of not less than RMB100 million, which represented a growth of not less than approximately 100% as compared to that for the corresponding period in 2020 (the first half of 2020: RMB48 million (as restated - Note)). Based on information currently available to the Board, the Board considers that the expected increase in net profit is primarily attributable to (i) the increase in the sales volume of the Company's wholesale and retail petroleum products as a result of increase in market demand due to the recovery from the COVID-19 pandemic in the People's Republic of China; and (ii) the increase in marketing and promotional efforts by the Company.

Note: The Company completed the acquisition (the "Acquisition") of Eternal Global Investment Limited during the year ended 31 December 2020. The Acquisition was treated as a combination of businesses under common control, and the figures in this announcement have been prepared using the merger basis of accounting as if the Acquisition was completed and the Petroleum Refuelling Business had been combined at the beginning of the comparative period.

- 1 -

The Company is still in the process of finalising the consolidated financial results of the Group for the six months ended 30 June 2021. Hence, the information disclosed in this announcement only represents a preliminary assessment by the Board with reference to the unaudited consolidated management accounts of the Group for the six months ended 30 June 2021 and the information currently available to the Board, which has not been audited or reviewed by the auditors of the Company and is subject to possible adjustments upon further review.

Shareholders and potential investors of the Company are advised to consider carefully the interim results announcement of the Company for six months ended 30 June 2021, which is expected to be published by the end of August 2021 in compliance with the Listing Rules. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

United Strength Power Holdings Limited

Mr. Zhao Jinmin

Chairman and chief executive director

Hong Kong, 3 August 2021

As at the date of this announcement, the Board comprises four executive Directors, being Mr. Zhao Jinmin, Mr. Liu Yingwu, Mr. Yuan Limin and Mr. Ma Haidong, the non-executive Director, being Mr. Xu Huilin, and three independent non-executive Directors, being Ms. Su Dan, Mr. Lau Ying Kit and Mr. Zhang Zhifeng.

- 2 -

Disclaimer

United Strength Power Holdings Ltd. published this content on 03 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2021 09:54:55 UTC.


ę Publicnow 2021
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Financials
Sales 2020 3 481 M 545 M 545 M
Net income 2020 123 M 19,3 M 19,3 M
Net Debt 2020 466 M 72,8 M 72,8 M
P/E ratio 2020 21,5x
Yield 2020 0,59%
Capitalization 4 298 M 672 M 672 M
EV / Sales 2019 0,38x
EV / Sales 2020 0,95x
Nbr of Employees 1 718
Free-Float 26,6%
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Managers and Directors
Jin Min Zhao Chairman & Chief Executive Officer
Wai Kit Lo Chief Financial Officer & Secretary
Xiao Dan Bian Chief Administrative Officer
Dan Su Independent Non-Executive Director
Ying Kit Lau Independent Non-Executive Director
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