The board of directors of Tree Holdings Limited announced that, based on the preliminary review of the unaudited consolidated management accounts of the Group for the three months ended 30 June 2022, the Group expects that the unaudited consolidated profit and total comprehensive income attributable to the Shareholders will be lowered by approximately 127.7%, i.e. from the unaudited consolidated profit and total comprehensive income of approximately HKD 3.9 million for three months ended 30 June 2021, reducing to an unaudited consolidated loss of approximately HKD 1.1 million for the three months ended 30 June 2022. The Board considers that the decline was mainly attributable to the decrease in revenue due to the fifth wave of COVID-19 pandemic.