Urethane Blog

Sinomax Profit Warning

February 24, 2023

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

Sinomax Group Limited


(Incorporated under the laws of the Cayman Islands with limited liability)
(Stock Code: 1418)


This announcement is made by Sinomax Group Limited (the “Company”, together with its
subsidiaries, collectively 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 board of directors of the Company (the “Board”) wishes to inform the shareholders of
the Company and potential investors that, based on a preliminary review of the unaudited
consolidated management accounts of the Group for the year ended 31 December 2022
(“FY2022”) and other information currently available to the Board, the Group is expected to
record a loss after taxation for FY2022 of not less than HK$35 million as compared to a profit
after taxation for the year ended 31 December 2021 of approximately HK$31 million. This
was primarily attributable to the continual outbreak of the COVID-19 which had critically
weakened both local and global consumption market and also the sales of the Group, and the
impact of the above also resulted in higher supply chain and logistic costs of the Group.

The Company is in the process of finalising the Group’s audited consolidated financial results
for FY2022. This announcement is made based on a preliminary review of the unaudited
consolidated management accounts of the Group for FY2022 and other financial information
currently available, which are subject to finalisation and possible adjustments upon review and
audit by the Company’s auditors or audit committee. Further details of the Group’s financial
results for FY2022 will be disclosed in the annual results announcement of the Company,
which is expected to be published on 28 March 2023.

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
Sinomax Group Limited

Lam Chi Fan
Hong Kong, 10 February 2023

As at the date of this announcement, the executive Directors are Mr. Lam Chi Fan (Chairman
of the Board), Mr. Cheung Tung (President), Mr. Chen Feng, Mr. Lam Kam Cheung
(Chief Financial Officer and Company Secretary) and Ms. Lam Fei Man; and the independent
non-executive Directors are Mr. Wong Chi Keung, Professor Lam Sing Kwong Simon,
Mr. Zhang Hwo Jie and Mr. Wu Tak Lung.


RSS Sign Up for Email Updates