Golden Power : POSITIVE PROFIT ALERT

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 announcement.

GOLDEN POWER GROUP HOLDINGS LIMITED ږɢණྠછٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 3919)

POSITIVE PROFIT ALERT

This announcement is made by the Company pursuant to Rule 13.09(2) of the Listing Rules on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance.

Based on initial assessment of the Group's unaudited consolidated management accounts, it is expected that the Company will record an increase in the consolidated profit attributable to equity holders of the Company for the Year of not less than 60% as compared to the consolidated profit attributable to equity holders of the Company for the financial year ended 31 December 2019.

Shareholders and potential investors are advised not to place undue reliance on the information disclosed in this announcement and are advised to exercise caution when dealing in the shares of the Company.

This announcement is made by Golden Power Group Holdings Limited (金力集團控股有 限公司) (the ''Company'', together with its subsidiaries, the ''Group'') pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities (''Listing Rules'') on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

The board of directors of the Company (the ''Board'') wishes to inform the shareholders of the Company (the ''Shareholders'') and potential investors that, based on initial assessment of the Group's unaudited consolidated management accounts for the financial year ended 31 December 2020 (the ''Year''), it is expected that the Company will record an increase in the consolidated profit attributable to equity holders of theCompany for the Year of not less than 60% as compared to the consolidated profit attributable to equity holders of the Company of approximately HK$7.38 million for the financial year ended 31 December 2019.

The Board considers such profit is mainly attributable to (i) an increase in currency exchange gain due to the appreciation of Renminbi during the Year; (ii) an increase in production capacity resulting from the commencement of commercial production of new production line and upgraded machineries; (iii) the receipt of Government's subsidy; and (iv) decrease in finance costs.

The information contained in this announcement represents only a preliminary assessment by the Company based on information currently available to the Company, including the unaudited consolidated management accounts of the Group for the Year, which have not been audited or reviewed by the Company's auditors and have not been reviewed by the audit committee of the Company. As at the date of this announcement, the Company is in the process of finalising the consolidated financial results of the Group for the Year (the ''Annual Results''), and such results are subject to adjustments and may be different from the information disclosed in this announcement. The Annual Results is scheduled to be published in late March 2021 according to the Listing Rules. Shareholders and potential investors are advised to pay attention to and read carefully the Annual Results when published.

Shareholders and potential investors are advised not to place undue reliance on the information disclosed in this announcement and are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

Golden Power Group Holdings Limited

Chu King Tien

Chairman and Executive Director

Hong Kong, 8 March 2021

As at the date of this announcement, the executive Directors are Mr. Chu King Tien, Ms. Chu Shuk Ching, Mr. Tang Chi Him and Mr. Chu Ho Wa, the independent non-executive Directors are Mr. Hui Kwok Wah, Mr. Ma Sai Yam and Mr. Chow Chun Hin Leslie.