The board of directors of Grand Ocean Advanced Resources Company Limited announced that, based on the preliminary assessments of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2022 and the latest information available to the Board, the Group is expected to record a profit after tax of not less than HKD 15 million as compared to a loss after tax of approximately HKD 5.1 million for the six months ended 30 June 2021. The expected turnaround of the Group's results is primarily due to the increase in coal production output and the selling price of coals during the six months ended 30 June 2022. The revenue of the Group for the six months ended 30 June 2022 is expected to be approximately HKD 105 million, representing an increase of approximately 46.8% as compared to the corresponding period last year.