The board of directors Cosmos Machinery Enterprises Limited informed shareholders and potential investors of the Company that, based on the preliminary review on the consolidated management accounts of the Group for the year ended 31 December 2023 and the information currently available to the Board, it is expected to record an unaudited consolidated loss of the Group of not more than HKD 60,000,000 for the year ended 31 December 2023, as compared to a consolidated profit of approximately HKD 18,837,000 for the year ended 31 December 2022.