The board of directors of Lapco Holdings Limited hereby informed the shareholders of the Company and potential investors that, based on the Board's preliminary review of the unaudited consolidated management accounts of the Company for the year ended 31 December 2020 which have not been audited by the auditors of the Company nor reviewed by the audit committee of the Company, it is expected that the Group will record a profit before tax of not more than HKD 19.3 million for the Period. Based on the information available to the Company immediately preceding the publication of this announcement, the Board considers that the change from net loss before tax of HKD 16.5 million for the year ended 31 December 2019 to net profit before tax for the Period was mainly attributed to 1) increase of approximately 14.8% in revenue during the Period as compared with that for the year ended 31 December 2019, 2) better margins of new tender contracts awarded and strategies of enhancing operational efficiencies, and 3) other income relating to the Employment Support Scheme, anti-epidemic fund subsidy on commercial vehicles and administration fee on anti-epidemic fund for cleaning workers.