The board of directors of the Tang Palace (China) Holdings Limited informed the shareholders of the company and potential investors that, according to a preliminary assessment of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2022, the Group is expected to record a loss attributable to owners of the company of not less than approximately RMB 80 million for the Period, compared to a profit attributable to owners of the company of approximately RMB 32 million for the same period in 2021.