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NEWBORN TOWN INC.
赤 子 城 科 技 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 9911)
UPDATE ON PROFIT WARNING
This announcement is made by Newborn Town Inc. (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09(2) 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 (Chapter 571 of the Laws of Hong Kong).
Reference is made to the announcement of the Company dated 3 August 2020 in relation to the profit warning (the "Profit Warning Announcement"). Capitalised terms used herein shall have the same meanings as defined in the Profit Warning Announcement unless the context requires otherwise.
As disclosed in the Profit Warning Announcement, the Group is expected to record a net loss of not more than RMB3 million mainly attributable to factors set out in the Profit Warning Announcement. In addition to the reasons as set out in the Profit Warning Announcement, the Board wishes to provide an update to the shareholders of the Company and potential investors that, based on the latest assessment by the Board with reference to the unaudited consolidated management accounts of the Group for the six months ended 30 June 2020, the fair value assessment of the financial assets measured at the fair value through profit or loss that finalised recently and other information currently available to the Board, there is a gain of the financial assets measured at the fair value through profit or loss. As a result, it is expected that the Group will record a net profit and an adjusted net profit for the six months ended 30 June 2020, which are both down by not more than 80% as compared with the corresponding period in 2019 respectively.