The Board of Da Ming International Holdings Limited announced that based on the management's preliminary assessment of the Company's unaudited management accounts for the eleven months ended 30 November 2022, the Group recorded an unaudited loss of approximately RMB 60 million for the eleven months ended 30 November 2022 as compared with an unaudited profit of approximately RMB 640 million for the eleven months ended 30 November 2021 representing a decrease of approximately 109%. As a result, the Group is expected to record a net loss for the year ending 31 December 2022 as compared with a net profit of approximately RMB 528 million for the year ended 31 December 2021. The expected net loss is mainly due to the following factors: 1. the adverse impact of the COVID-19 pandemic during the period causing a decrease in the Group's production efficiency; and 2. the decrease in the market price of steel materials during the period.