Grace Wine Holdings Limited provided preliminary unaudited consolidated group earnings guidance for the first quarter ended March 31, 2022. For the quarter, the group expects to record a profit before tax of not less than RMB 2 million as compared to a profit before tax of approximately RMB 8.2 million for the three months ended March 31, 2021. The performance is mainly attributable to a decrease in revenue due to the overall drop in sales volume of the Group's wine products as a result of the resurgence of the Coronavirus Disease 2019 in the People's Republic of China.