Precious Dragon Technology Holdings Limited provided group earnings guidance for the six months ended 30 June 2023. For the period, the group expects to record a significant increase in net profit attributable to the Shareholders by not less than 90% as compared to the net profit attributable to the Shareholders of approximately HKD 13.2 million for the six months ended 30 June 2022. Based on the information available to the Board, the Board considers that such expected increase in net profit was mainly attributable to, among other things, the decrease in the cost of procurement of solvents, being the major raw materials for the production, which was caused by the decrease in crude oil price; the increase in the Group's gross profit margin due to the increase in bargaining power against the suppliers; the concentration on the high profit margin products; the significantly decrease on transportation cost by the overall business environment; and the implementation of strict cost control measures to reduce the selling and distribution costs and other expenses.