Solartech International : INT'L<01166> - Announcements and Notices - - PROFIT WARNING

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SOLARTECH INTERNATIONAL HOLDINGS LIMITED

星 凱 控 股 有 限 公 司 *

(Incorporated in Bermuda with limited liability)

(Stock Code: 1166)

PROFIT WARNING

This announcement is made by the Company pursuant to Rule 13.09(2)(a) of the Listing Rules and the Inside Information Provisions under Part XIVA of the SFO.

The Board wishes to inform the shareholders of the Company and potential investors that based on the preliminary review of the unaudited consolidated management accounts of the Group for the year ended 30 June 2019, it is expected to record a significant increase in the loss for the year ended 30 June 2019 as compared to the loss for the year ended 30 June 2018.

The information contained in this announcement is only a preliminary assessment by the Board based on the information currently available and the unaudited consolidated management accounts of the Group, which have not been reviewed, confirmed nor audited by the Company's independent auditor.

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

This announcement is made by Solartech International Holdings Limited 星凱控股有限公司* (the "Company", and together with its subsidiaries, the "Group") pursuant to Rule 13.09(2)(a) 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 in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the "SFO").

*  For identification purposes only

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The board of Directors of the Company (the "Board") wishes to inform the shareholders of the Company and potential investors that based on the preliminary review of the unaudited consolidated management accounts of the Group for the year ended 30 June 2019 (the "Relevant Period"), it is expected to record a significant increase in the loss for the year ended 30 June 2019 as compared to the loss for the year ended 30 June 2018. Based on the relevant information currently available to the Company, the Board considers that the loss was mainly attributable to (1) the decrease in gross profit which was the result of the decrease in turnover; (2) the loss from the change in fair value and loss on disposal of financial assets at fair value through profit or loss recorded for the Relevant Period; (3) the increase in general and administrative expenses due to currency exchange loss caused by the depreciation of Renminbi during the Relevant Period; (4) share of loss of associates recorded for the Relevant Period; (5) the impairment loss on goodwill in relation to the business of securities; (6) the impairment loss on interests in associates; and (7) the impairment loss recognised in respect of mining right.

As the Company is still in the course of preparing its audited final results for the year ended 30 June 2019, the information contained in this announcement is only a preliminary assessment by the Board based on the information currently available and the unaudited consolidated management accounts of the Group, which have not been reviewed, confirmed nor audited by the Company's independent auditor. The overall financial results of the Group for the year ended 30 June 2019 will only be ascertained when all the relevant results and corresponding treatments are finalised. The audited final results of the Group for the year ended 30 June 2019 will be announced by the Company on 27 September 2019. Shareholders of the Company and potential investors are advised to read the audited final results announcement of the Company when it is published.

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

On behalf of the Board

Solartech International Holdings Limited

Chau Lai Him

Chairman and Managing Director

Hong Kong, 24 September 2019

As at the date of this announcement, the executive Directors are Mr. Chau Lai Him, Mr. Chau Chi Ho and Mr. Liu Dong Yang and the independent non-executive Directors are Mr. Chung Kam Kwong, Mr. Lo Wai Ming and Mr. Lo Chao Ming.

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