CT IND GROUP issues profit warning, expecting an annual loss attributable to shareholders of approximately 22.8 million yuan

According to the Zhitong Finance APP, China Technology Industry Group (08111) announced that the group expects to achieve revenue of 800,000 yuan for the year ending March 31, 2025, while the revenue for the fiscal year 2024 is expected to be 0 yuan. The group's gross profit margin for the fiscal year 2025 is projected to be 30.3%, compared to zero for the fiscal year 2024. As mentioned above, the group is expected to incur a loss attributable to equity holders of approximately RMB 22.8 million for the fiscal year 2025, while the loss attributable to equity holders for the fiscal year 2024 is expected to be approximately RMB 47.2 million. The losses are mainly due to delays in the progress of the group's projects compared to the original plan. On June 21, 2024, the company's indirect wholly-owned subsidiary, Sanmenxia Baike New Energy Co., Ltd., entered into an EPC contract with Hebei Hanergy Power Supply Co., Ltd. for the construction of an energy storage power station in Sanmenxia City, Henan Province, China. This EPC contract was signed based on the cooperation agreement signed between Sanmenxia Baike and the project partner on September 22, 2023. However, due to sudden changes in key personnel of the project partner, the construction of the power station, including the energy storage station, could not start as planned. After careful assessment, the group decided to suspend the cooperation agreement. On June 25, 2025, the company's indirect wholly-owned subsidiary, Shaanxi Baike New Energy Technology Development Co., Ltd., signed an operation and maintenance service contract with Hebei Fengbei New Energy Co., Ltd., under which Shaanxi Baike will provide operation and maintenance services for the photovoltaic power station located in Wanshengyong Township, Fengning County, Chengde City, Hebei Province, for a period of 3 years, from July 1, 2025, to June 30, 2028. This operation and maintenance service will become one of the sources of revenue for the group in the coming years and is another example of the group's continuous expansion of revenue channels. The above transaction is subject to shareholder approval