Smart Globe Holdings Limited announced that the Company on the unaudited management accounts of the Group for the year ended 31 December 2022 and assessment of the information currently available, the Board wishes to inform the shareholders of the Company and potential investors that the Group is expected to record a loss after tax in the range of approximately HKD 15.5 million to HKD 18.5 million for the year ended 31 December 2022 as compared to an audited profit after tax of approximately HKD 1.6 million for the year ended 31 December 2021. The reason for the expected loss for the year ended 31 December 2022 was mainly attributable to the combined effect of an increase in paper cost throughout the year ended 31 December 2022; lower price was offered to customers due to keen market competition; and an increase in administrative expenses.