The Board of Directors of Tao Heung Holdings Limited informed the shareholders and potential investors of the Company that, based on the preliminary review of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2023 (the "Period"), the Group is expecting to record a profit attributable to equity holders of the Company of approximately HKD 30 million to HKD 40 million for the Period as compared to a loss attributable to equity holders of the Company of HKD 101 million for the corresponding period last year. It is mainly attributable to: an increase in revenue of the Group in the range of 40% to 50% as compared to the period ended 30 June 2022 and implemented an effective cost control measures, including but not limited to, negotiating with landlords and vendors for more favourable terms, exercising food cost control and managing operating expenses.