The board of directors of Tungtex (Holdings) Company Limited informed the shareholders of the Company and potential investors that, based on the preliminary review of the unaudited consolidated management accounts of the Group for the financial year ended 31 March 2022 and information currently available to the Company, the Group is expected to record a loss for the Financial Year in the range of approximately HKD 25.0 million to HKD 30.0 million. As compared to the profit of approximately HKD 255.3 million recorded for the last financial year ended 31 March 2021, the loss recorded for the Financial Year was mainly attributable to the absence of one-off non-operating gain on disposal of a subsidiary and assets classified as held for sale in the amount of approximately HKD 309.4 million.