China Putian Food : INSIDE INFORMATION - PROFIT WARNING

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CHINA PUTIAN FOOD HOLDING LIMITED

中 國 普 甜 食 品 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 01699)

INSIDE INFORMATION

PROFIT WARNING

This announcement is made by China Putian Food Holding Limited (the ''Company''and 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 the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong).

The board of directors (the ''Director(s)'') of the Company (the ''Board'') wishes to inform the shareholders of the Company (the ''Shareholders'') and potential investors that based on the preliminary assessment of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2020 (the ''Reviewed Period''), the Company expects to record a decrease of approximately 70% to 80% in net profit attributable to the owners of the Company for the Reviewed Period as compared to the net profit attributable to the owners of the Company of approximately RMB37,420,000 for the six months ended 30 June 2019.

The expected decrease in net profit attributable to the owners of the Company for the Reviewed Period is mainly attributable to the following factors: (i) a significant decrease in the gain arising from change in fair value less costs to sell of biological assets for the Reviewed Period, representing a decrease of approximately 70% to 80% as compared to a gain of approximately RMB20,082,000 for the six months ended 30 June 2019; (ii) no gain arising from change in fair value change of derivative financial liabilities for the Reviewed Period, as compared with a gain of approximately RMB8,202,000 for the six months ended 30 June 2019; and (iii) an increase in the selling and distribution expenses and administrative expenses for the Reviewed Period.

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The Company is still in the process of finalising the interim results of the Group for the six months ended 30 June 2020. The information contained in this announcement is only based on the preliminary assessment by the management of the Company on the information currently available to the Company and the unaudited consolidated management accounts of the Group. Such information has not been reviewed nor finalised by the Company's audit committee or the Company's auditors. The unaudited results of the Group for the six months ended 30 June 2020 may be different from what is disclosed herein. Further details of the financial information of the Group for the six months ended 30 June 2020 will be disclosed in the interim results announcement of the Company for the six months ended 30 June 2020, which will be published in due course pursuant to the requirements of the Listing Rules.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company, and, in case of doubt, to seek independent advice from professional or financial advisers.

By order of the Board

China Putian Food Holding Limited

CAI Chenyang

Chairman

Hong Kong, 26 August 2020

As at the date of this announcement, the Board comprises Mr. CAI Chenyang, Mr. CAI Haifang and Ms. MA Yilin as executive Directors, Mr. CHENG Lian and Mr. CAI Zhiwei as non-executive Directors and Mr. XUE Chaochao, Mr. CAI Zirong and Mr. WANG Aiguo as independent non-executive Directors.

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