The board of directors of the Wing Chi Holdings Limited announced that, based on a preliminary assessment of the group's unaudited consolidated management accounts for the year ended 31 March 2022 and other information currently available to the Board, the Group expects to record a consolidated net profit attributable to owners of the Company of approximately HKD 3.0 million for the fiscal year 2022 as compared to the net loss attributable to owners of the Company of approximately HKD 46.4 million for the year ended 31 March 2021. The Board considers that the turnaround in the results for the fiscal year 2022 is mainly attributable to (i) the Group has been engaged in the construction of community isolation and treatment facilities for the Hong Kong SAR Government that generated approximately HKD 40 million in revenue for the fiscal year 2022 (Nil for fiscal year 2021); (ii) enhancement in the bargaining power of the Group in its negotiation with customers on the construction workdones with the gradual improvement in the Hong Kong economy and (iii) reduction in the construction cost of the Group following the implementation of cost control measures.