The board of directors of Wecon Holdings Limited announced that, based on the preliminary review of the unaudited consolidated management accounts of the Group for the six months ended 30 September 2022 the profit attributable to equity holders of the Company is expected to decrease by around 80%, as compared to the profit attributable to equity holders of the Company of approximately HKD 13.6 million for the six months ended 30 September 2021. The decrease in profit was mainly attributable to (i) the outbreak of the COVID-19 pandemic in Hong Kong during the Period, which caused a slowdown of progress in some projects; (ii) practical completion of several projects during the Period, which caused a decrease in the revenue of the Group; and (iii) slowdown of Hong Kong economy generally in recent months.