The board (Board) of directors (Directors) of the Ying Hai Group Holdings Company Limited announced the shareholders of the Company (Shareholders) and potential investors of the Company that, based on the preliminary review by the Board of the unaudited consolidated management accounts of the Group for the three months ended 31 March 2023, the Group expects to record a consolidated net profit ranging from approximately HKD 2.0 million to approximately HKD 2.8 million, as compared to the consolidated net loss of approximately HKD 4.2 million for the three months ended 31 March 2022. The improvement in results was primarily due to the significant increase in revenue and decrease in administrative expenses for 2023 first quarter.