The board (the ‘Board') of directors of Hangzhou SF Intra-city Industrial Co., Ltd. (the ‘Directors') wishes to inform the shareholders of the Company and potential investors that, based on the preliminary review of the latest unaudited consolidated management accounts of the Group for the year ended 31 December 2022 (the ‘Year') and other information currently available, it is expected that the Group's consolidated net loss attributable to the owners of the Company for the Year will decrease by more than 50% as compared to the corresponding period for the previous year.