Yantai North Andre Juice : Profit Warning

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PROFIT WARNING

This announcement is made by Yantai North Andre Juice Co., Ltd.* (the "Company", together with its subsidiaries as the "Group") pursuant to inside information provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong) (the "SFO") and Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The board (the ''Board'') of directors (the ''Directors'') of the Company wishes to inform the shareholders of the Company (the ''Shareholders'') and potential investors that, based on a review of the Group's unaudited management accounts for the three months ended March 31, 2021:

• the Group is expected to record a net profit attributable to the Shareholders of approximately RMB8.06 million to RMB15.06 million, representing a decrease by RMB18.00 million to RMB25.00 million, or approximately 55% to 75% as compared to the net profit attributable to the Shareholders for the three months ended March 31, 2021, which amounted to approximately RMB33.06 million;
• the Group is expected to record a net profit attributable to the Shareholders after deducting non-recurring profit or loss of approximately RMB18.68 million to RMB25.68 million, representing a decrease by RMB4.67 million to RMB11.67 million, or approximately 14% to 35% as compared to the net profit attributable to the Shareholders after deducting non-recurring profit or loss for the three months ended March 31, 2021, which amounted to approximately RMB30.35 million; and
• earnings per share of the Group is expected to decrease from approximately RMB0.09 for the three months ended March 31, 2020 to approximately RMB0.03 for the three months ended March 31, 2021.

The expected decreases above were mainly attributable to (i) a decrease in sales volume and an increase in operating costs as a result of high international transportation costs; (ii) a decrease in sales to overseas markets as a result of the appreciation of Renminbi against United States dollars; and (iii) non-operating losses arising from changes in fair value of financial assets held for trading (such as stocks) of the Group, which amounted to approximately RMB15.76 million for the three months ended March 31, 2021.

The information contained in this announcement is only a preliminary assessment made by the management of the Company based on the unaudited management accounts of the Group and the information currently available to the Board, and such information has not been audited or reviewed by the Company's independent auditors. As a result, figures contained in this announcement are pending confirmation and adjustment, if necessary. Shareholders and potential investors should read the first quarter results announcement carefully, which is expected to be published by the end of April 2021.

Shareholders and potential investors are advised to exercise caution when dealing in

the shares of the Company.

By order of the Board

Yantai North Andre Juice Co., Ltd.*

Wang An

Chairman

Yantai, the PRC, April 15, 2021

As at the date hereof, the Board comprises:

Mr. Wang An (Executive Director)

Mr. Zhang Hui (Executive Director)

Mr. Wang Yan Hui (Executive Director)

Mr. Liu Tsung-Yi (Non-executive Director)

Mr. Jiang Hong Qi (Independent non-executive Director)

Mr. Li Wei (Independent non-executive Director)

Mr. Li Yao (Independent non-executive Director)

* For identification purpose only