Kingboard : JOINT ANNOUNCEMENT - POSITIVE PROFIT ALERT

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JOINT ANNOUNCEMENT

POSITIVE PROFIT ALERT

This announcement is jointly published by Kingboard Holdings Limited ("KBH", together with its subsidiaries, the "KBH Group") and Kingboard Laminates Holdings Limited ("KBL", together with its subsidiaries, the "KBL 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 Inside Information Provisions under Part XIVA of the Securities and Future Ordinance (Chapter 571 of the Laws of Hong Kong) (the "SFO").

The board of directors of KBH (the "KBH Board") wishes to inform shareholders and potential investors of KBH that, based on the preliminary review of the unaudited management accounts of the KBH Group (including the KBL Group) for the three months ended 31 March 2021 and the information currently available to the KBH Board, the KBH Group is expecting to record an increase of over 100% in the net profit for the three months ended 31 March 2021 as compared with the six months ended 30 June 2020. The expected increase in the net profit of the KBH Group is mainly attributable to the growth in the unit selling price of the products of various divisions, namely laminates division, printed circuit boards division and chemical division.

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The board of directors of KBL (the "KBL Board") wishes to inform shareholders and potential investors of KBL that, based on the preliminary review of the unaudited management accounts of the KBL Group for the three months ended 31 March 2021 and the information currently available to the KBL Board, the KBL Group is expecting to record an increase of over 130% in the net profit for the three months ended 31 March 2021 as compared with the six months ended 30 June 2020. The expected increase in the net profit of the KBL Group is mainly attributable to the increase in the unit selling price of the products manufactured and sold by the KBL Group. As a result of undersupply, market prices of the upstream materials such as copper foil, glass fabric and epoxy resin rose significantly during the period, which led to several increases in the price of laminates.

The KBH Board and KBL Board believe that the increase in the net profit is also contributed by the KBH Group's strong and comprehensive vertical integration business model.

This positive profit alert announcement is only based on the preliminary assessment by the KBH Board and KBL Board, respectively, with reference to their respective management accounts and the information currently available, which are subject to finalization and adjustments where necessary, and have not been reviewed or audited by the auditors or audit committees of KBH and KBL, respectively. Also, the aforesaid information relates to the three months ended 31 March 2021 only and are not directly comparable with the historical performances. The financial information of the KBH Group and the KBL Group, respectively, for the six months ending 30 June 2021 will be subject to, among other things, the business performances of the KBH Group and the KBL Group, respectively, by then.

As at the date of this announcement, the board of directors of Kingboard Holdings Limited consists of Messrs. Cheung Kwok Wing, Chang Wing Yiu, Cheung Kwong Kwan, Ho Yin Sang, Cheung Wai Lin, Stephanie, Cheung Ka Shing and Chen Maosheng, being the executive directors and Messrs. Cheung Ming Man, Chong Kin Ki, Chan Wing Kee and Stanley Chung Wai Cheong, being the independent non-executive directors.

As at the date of this announcement, the board of directors of Kingboard Laminates Holdings Limited consists of Messrs. Cheung Kwok Wa, Cheung Kwok Keung, Cheung Kwok Ping, Lam Ka Po, Cheung Ka Ho and Zhou Pei Feng, being the executive directors, Mr. Lo Ka Leong, being the non-executive director, and Messrs. Leung Tai Chiu, Ip Shu Kwan, Stephen, Zhang Lu Fu and Lau Ping Cheung, Kaizer, being the independent non-executive directors.

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