The board of directors of Tian Cheng Holdings Limited informed the shareholders of the Company and potential investors that, based on the preliminary assessment by the Board of the latest available unaudited consolidated management accounts of the Group for the financial year ended 31 May 2023 and the latest information available to the Board, the Group is expected to record a loss of approximately HKD 85.5 million to HKD 94.7 million as compared to the net profit of approximately HKD 16.7 million for the financial year ended 31 May 2022.