Dynasty Fine Wines Group Limited provided consolidated earnings guidance for the year ended 31 December 2022. For the year, the company expects to record a decrease in the Group's profit attributable to owners of the Company for the Fiscal Year 2022 by 45% to 55% as compared to the audited profit attributable to owners of the Company of approximately HKD 32.8 million for the year ended 31 December 2021. The decrease in profit was mainly attributable to the drop in gross profit resulting from a decrease in the revenue of the Group for the FY2022 when compared with the FY2021.

The Board is of the view that the decrease in revenue was primarily due to i) the control and lockdown measures imposed on consuming places as a result of the resurgence of the novel coronavirus pneumonia in various cities in the People's Republic of China; and ii) the adverse impact of the COVID pandemic on consumer sentiment in the FY2022. The Group has been closely monitoring the market conditions and has made necessary adjustments to its business strategies to minimize the adverse impact on the operations. In view of the dismantlement of pandemic control measures in December 2022 and subsequent normalisation of consumption activities in the PRC, the Board believes that business of the Group will recover and resume growth this year, and the Board remains confident in its long-term development.