Based on the information currently available to the board of directors of Palinda Group Holdings Limited and upon the preliminary review of the latest unaudited consolidated management accounts of the Group for the three months ended 31 March 2023, the Board informed the shareholders of the Company and potential investors that the Group expects to record a profit attributable to owners of the Company of not less than HKD 16.5 million for the Period, as compared with the profit of approximately HKD 0.27 million recorded for the three months ended 31 March 2022. Such significant increase is mainly attributable to: increase in sales in the development of wines business.