1957 & Co. (Hospitality) Limited provided earnings guidance for the nine months ended 30 September 2023. The Group is expected to record a net loss of approximately HKD 8 million for the Review Period as compared to a net loss of approximately HKD 1 million for the corresponding period in 2022.

The increase in net loss was mainly attributable to the significant decrease in other gains and income of approximately HKD 11 million during the Review Period due to the reduction in subsidies received by the Group from the Hong Kong Government under the Employment Support Scheme and Catering Business (Social Distancing) Subsidy Scheme under the Anti-epidemic Fund. The Company is still in the process of finalising the third quarterly results of the Group for the three months and nine months ended 30 September 2023. The information contained in this announcement is only based on the Board's preliminary assessment made by the Board based on the Group's unaudited consolidated management accounts for the three months and nine months ended 30 September 2023 and other information currently available to the Board, which have not been audited or reviewed by the auditor or the audit committee of the Company and may be subject to adjustments.

The Shareholders and potential investors are advised to refer to the details in the third quarterly results announcement of the Company for the Review Period, which is expected to be published on 8 November 2023.