China Pipe Group Limited provided consolidated earnings guidance for the year ended 31 December 2021. The Board wishes to inform the Shareholders and potential investors of the Company that, based on the preliminary assessment of the unaudited consolidated management accounts of the Group for the year ended 31 December 2021, it is expected that the Group may record a significant increase in the profit attributable to equity holders of the Company for the year ended 31 December 2021 of between HKD 60 million and HKD 64 million, as compared with a profit of approximately HKD 20.2 million for the same period of last year. Such profit increment was mainly attributable to the combined effect of (i) increase in revenue; (ii) improvement in gross profit margin and (iii) ongoing cost-effective strategy.

This was mainly driven by the increase in demand from customers to accelerate the progress of on-going projects which were delayed in last year.