PANGAEA CONNECT (01473) expects annual net profit to increase by 30%-50% year-on-year.

PANGAEA CONNECT (01473) announced that the Board of Directors has noticed a recent increase in the trading price and volume of the company's shares since around mid-May 2026. As of the date of this announcement, the Group's business operations continue to run normally and smoothly, with progress in its core business going well and no significant adverse changes in the Group's business operations and financial condition. Comparing with a net profit of approximately HK$30.5 million for the year ended March 31, 2025, the Group expects a growth of 30% to 50% in net profit for the year ending March 31, 2026. This expected growth is mainly attributed to an increase in revenue, driven by the rapid growth in computing, storage, and network systems operations and bandwidth demand from major cloud operators in the artificial intelligence market, leading to an increased demand for artificial intelligence products. Upon inquiry, the Board of Directors confirms that, apart from what is disclosed in this announcement, they are not aware of (i) any reasons causing the changes in price and volume; or (ii) any material information that must be disclosed to prevent false market of the company's securities; or (iii) any insider information required to be disclosed under Rule 13.09 (2) of the Listing Rules and Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).