Activation Group Holdings Limited provided group earnings guidance for the year ended 31 December 2022. The Group is expected to record an unaudited net profit of approximately RMB 27.5 million for fiscal year 2022 (after deducting one-off expenses arising from the grant of share awards which amounted to RMB 18.6 million and withholding tax expenses arising from dividend payment which amounted to RMB 7.8 million) as comparing to RMB102.6 million for the year ended 31 December 2021. The decline of net profit is mainly due to the impact of the resurgence of the Coronavirus disease (COVID-19) pandemic in the PRC during the first half of 2022, including the cancellation or postponement of large-scale marketing events and exhibitions, and restrictions on operations in Shanghai, where the headquarters of the Company of most of its clients are located at.