Tat Hong Equipment Service Co., Ltd. provided preliminary unaudited consolidated group earnings guidance for the year ended 31 March 2023. For the year, the group expects to record a loss attributable to equity holders of the Company in the range of RMB 35.0 million to RMB 45.0 million as compared with a profit attributable to equity holders of the Company of approximately RMB 47.6 million for the year ended 31 March 2022. Such anticipated turnaround from profit to loss is mainly due to, among the other factors, the one-off exchange loss arising from the conversion of foreign currency loans to renminbi loans; and the decrease in revenue.

Due to the ongoing outbreak of COVID-19 during the Year and the corresponding control measures in Eastern China, some projects have been postponed and delayed in the year of 2022, thereby affecting the Group's revenue in the Year.