The board (the "Board") of directors (the "Directors") of Raymond Industrial Limited announced that based on the preliminary review of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2023 (the "Period") and information currently available to the Board, the Group is expected to record a significant increase in unaudited net profit of approximately 198%, as compared to the unaudited net profit for the corresponding period in 2022. The Board believes that the expected surge in the Group's unaudited net profit for the Period was primarily due to (i) improved sales, (ii) increased gross profit margin and (iii) controlled operating expenses.