Keen Ocean International Holding Limited provided consolidated earnings guidance for the six months ended June 30, 2023. For the six months ended June 30, 2023, the group is expected to record a net profit of approximately HKD 9,700,000 for the Period, as compared to the net profit of approximately HKD 4,700,000 for the six months ended 30 June 2022. Based on the information currently available, the Board is of the view that the expected increase in net profit was mainly attributable to, among others, the following factors: the increase in the Group's sales by approximately HKD 58,300,000 for the Period as compared to the corresponding period in 2022.

The increase in the Group's sales was mainly due to the increase in the placement of purchase orders for transformers, electronic parts and components from several existing customers of the company during the Period to meet the continuing surge in demand of clean energy appliances after continuous delivery of products with satisfactory quality control; the increase in the group's gross profit by approximately HKD 6,500,000 for the Period as compared to the corresponding period in 2022; the increase in other gains of the Group of approximately HKD 2,400,000 during the Period, primarily due to the investment gain on copper option contracts following the adoption of the hedging policy since late 2021; and the increase in other income of the Group of approximately HKD 1,200,000 during the Period, primarily due to the receipt of tax incentive provided by the public of China under a fund for supporting technology innovation.