IBO Technology (2708.HK) Announced Positive Profit Alert; Expects Profit Attributable to the Owners of the Company of not Less than RMB3 million

HONG KONG, Nov 10, 2021 – (ACN Newswire via SEAPRWire.com) – IBO Technology Company Limited (stock code: 2708.HK) has announced a positive profit alert that the profit attributable to the owners of the Company of not less than RMB3 million for the six months ended 30 September 2021 (Loss attributable to the owners of the Company of RMB15.45 million for the six months ended 30 September 2020), which was mainly attributable to:

— the substantial increase in revenue and gross profit during the Reporting Period as compared to the Corresponding Period of 2020, as driven by significant increase in revenue from intelligent terminal products sales;

— gain on change in fair value of convertible bonds was recorded during the Reporting Period, while loss on change in fair value of convertible bonds was recorded for the Corresponding Period of 2020;

— gain on change in fair value of consideration payables was recorded during the Reporting Period, while loss on change in fair value of consideration payables was recorded for the Corresponding Period of 2020.

The Board expects that the announcement of the interim results of the Company for the six months ended 30 September 2021 will be published by the end of November 2021.

For more information, please refer to the announcement:
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/1110/2021111000473.pdf

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