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
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 Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") (the "Listing Rules") 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 year ended 31 December 2021, the Group is expected to record a net profit of not less than approximately RMB175 million, which represented a growth of not less than approximately 40% as compared to that for the year ended 31 December 2020 (2020: RMB124.4 million). 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.
- 1 -
The Company is still in the process of finalising the annual results of the Group for the year ended 31 December 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 year ended 31 December 2021 and the information currently available to the Board, which has not been audited or reviewed by the auditors nor the audit committee 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 annual results of the Company for the year ended 31 December 2021, which is expected to be published by the end of March 2022 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, 28 February 2022
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 -