Cool Link (Holdings) Limited provided consolidated earnings guidance for the first quarter ended March 31, 2023. Based on the preliminary review of the unaudited consolidated management accounts of the Group for the three months ended 31 March 2023 (the "1Q2023") and the information currently available to the Board, the Group expected to record a net profit as compared with the net loss of the same period in 2022, which mainly due to the decrease in administrative expenses. Based on the preliminary review of the unaudited consolidated management accounts of the Group for the three months ended 31 March 2023 and the information currently available to the Board, the Group expected to record a net profit of not less than SGD 500,000 as compared with the net loss of SGD 185,000 of the same period in 2022.

The Board considers that such profit was mainly attributable by the decrease in administrative and other operating expenses of not less than 35% and the increase in gross profit of not less than 10%.