Based on the information available for the time being, the board of directors of Daido Group Limited informed the shareholders of the Company and potential investors that the Group is expected to record a net profit attributable to the Shareholders of approximately not less than HKD 3,000,000 for the year ended 31 December 2022, as compared to a net loss attributable to the Shareholders of approximately HKD 80,270,000 recorded for the year ended 31 December 2021. The Board considers that the turnaround from loss to profit position of the Group was primarily attributable to the increase in the revenue from cold storage and related services business by approximately 27% recorded in 2022 as compared to 2021; the one-off loss and expense recorded due to the disposal of an associate and the termination of a management service agreement with the associate in the corresponding period in 2021 whereas there were no such items in 2022; and the Group received the government subsidies approximately HKD 4,076,000 under the Employment Support Scheme from the Government's Anti-epidemic Fund established by the Hong Kong Government.