Shenwan Hongyuan (H.K.) Limited provided group earnings guidance for the six months ended 30 June 2023. The board of directors of the Company
informed the shareholders and potential investors of the Company that, based on the latest financial information available to the Board, the unaudited consolidated loss after tax of the Group for the six months ended 30 June 2023 is expected to be between HKD 65 million and HKD 75 million as compared with a consolidated loss after tax of HKD 123 million for the six months ended 30 June 2022. Despite certain adverse factors, such as geopolitical instability and tightening global monetary policy have led to the global economic slowdown and sluggish condition of Hong Kong capital
market in the first half of 2023, the total income of the Group has increased as interest income and investment revenue have increased compared to corresponding period in 2022. In addition, the Group has taken risk control measures to reduce the expected credit loss generated from fixed
income products in institutional services and trading business compared to corresponding period in 2022. The expected credit loss is not a realized loss. The business of the Group operates as usual and the overall financial position and business operation of the Group remain sound.