The board of directors of KBL (Kingboard Laminates Holdings Limited) the Group is expecting to record a net profit of approximately HKD 2.3 billion to HKD 2.7 billion for the year ended 31 December 2022, a decrease in net profit of approximately 60% to 66% as compared with the corresponding period in 2021. The expected decrease in the net profits of the Group for the year ended 31 December 2022 is primarily attributable to the decrease in both unit selling price and quantity of the laminate products manufactured and sold by the Group and is, to a lesser extent, attributable to allowance for credit loss of bonds investments held by the Group.