The board of directors of E&P Global Holdings Limited announced that based on the preliminary review of the draft unaudited consolidated management accounts of the Group for the six months ended 30 September 2023 and other information currently available, the Group is expected to record a profit before income tax in the range of approximately HKD 37 million to HKD 51 million for the six months ended 30 September 2023 as compared to a profit before income tax of approximately HKD 692 million for the same period of last year. Such estimated decrease in profit before income tax is primarily attributable to the net effects of (i) no impairment loss or reversal of impairment loss on other intangible assets (in relation to mining rights of Lot 1 and Lot 1 Extension of the Group's Russian coal mines) as the other intangible assets had been fully amortized as at 31 March 2023 (2022: reversal of impairment loss of approximately HKD 260 million); (ii) an estimated reversal of impairment loss on exploration and evaluation assets (in relation to mining rights of Lot 2 of the Group's Russian coal mines) amounting to approximately HKD 55 million (2022: reversal of impairment loss of approximately HKD 672 million) arising from increase in valuation of such assets as at 30 September 2023 mainly due to the net effects of increase in coal sales prices of certain types of coals, depreciation of Russian Rubles to United States Dollars, change in expected future inflation rate of costs and the corresponding change in expected future growth rate of coal sales prices in the coming few years, and change of the expected first year of coal production to 2025; and (iii) no amortization of other intangible assets (in relation to mining rights of Lot 1 and Lot 1 Extension of the Group's Russian coal mines) as the other intangible assets had been fully amortized as at 31 March 2023 (2022: amortization of approximately HKD 241 million).