Abundance International Limited provided group earnings guidance for the half year 2022. For the period, The company expects to be lower than the PAT reported for the half year period ended 30 June 2021 of USD 5.4 million. This is mainly attributable to lower employee benefits expenses and tax expenses in half year 2022 as compared with half year 2021, which was offset by: a reversal of fair value gains on financial asset at fair value through profit or loss ("FVTPL") from USD 4.0 million in half year 2021 to fair value losses on financial asset at FVTPL of USD 51,000 in half year 2022.

The USD 4.0 million fair value gains in half year 2021 were largely contributed by the company's investment, made via the company's wholly-owned subsidiary, Orient-Salt Chemicals (Shanghai) Co. Ltd., in Jiangsu Sopo Chemical Co. Ltd. (the "Sopo Shares") in half year 2021.

The Sopo Shares were sold during the second half year of 2021 and therefore there were no fair value changes arising from the Sopo Shares in half year 2022; and an increase in freight and handling charges due mainly to the overall increase in freight rates in half year 2022 as compared with half year 2021.