The board of China Apex Group Limited provided consolidated earnings guidance for the year ended 31 December 2022 and the information currently available to the Board, the Group is expected to record a net loss attributable to the Shareholders of approximately HKD 1.9 million as compared with the net loss attributable to the Shareholders of approximately HKD 17.5 million in the corresponding period in 2021. The expected decrease in loss is primarily attributable to an increase in selling price of zipper products which led to an increase in gross profit margin by approximately 7% as compared to that for the year ended 31 December 2021. The Group also recognised net foreign exchange gain of approximately HKD 13.3 million instead of net foreign exchange loss of approximately HKD 4.4 million in the corresponding period in 2021.

As at the date of this announcement, the Company is still in the process of finalizing its consolidated financial results of the Group for the year ended 31 December 2022. The information contained in this announcement is only a preliminary assessment by the Board based on the unaudited consolidated management accounts of the Group and the information currently available to the Board, which has not been audited or reviewed by the Company's independent auditors or the audit committee of the Board and may be subject to adjustments. Details of the Group's annual results for the year ended 31 December 2022 will be disclosed in the annual results announcement of the Company, which is expected to be published by the end of March 2023.