Honbridge Holdings Limited provided unaudited consolidated group earnings guidance for the first quarter ended March 31, 2022. For the quarter, the company expects to record approximately HKD 12.0 million revenue for the period ended 31 March 2022 ("First Quarter of 2022"), decreased by approximately 87% when compared to the approximately HKD 94.0 million revenue for the period ended 31 March 2021 ("First Quarter of 2021"). The substantial decrease in revenue was mainly due to the decrease in demand of lithium-ion batteries from the company's major customer Volvo Car while new lithium-ion battery product of the Group is not expected to commence mass production until mid-2022.

In the First Quarter of 2022, the loss attributable to the owners of the Company was approximately HKD 56.0 million (First Quarter of 2021: HKD 155.0 million profit). The change from profit to loss was mainly due to the decreased in share price of a financial asset at fair value through profit or loss during the First Quarter of 2022, generated approximately HKD 49.0 million non-cash other operating expense (First Quarter of 2021: approximately HKD 109.0 million profit) and decreased in gross profit. On the other hand, a HKD 45.4 million gain on disposal of a financial asset at fair value through profit or loss was recognised for the First Quarter of 2021 but there was no such one-off income in the First Quarter of 2022.