The board of directors of the Ching Lee Holdings Limited announced that, based on the preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 March 2022, the Group is expected to record a loss for the year ended 31 March 2022 between HKD 17.0 million and HKD 20.0 million, as compared to the net profit of the Group for the year ended 31 March 2021 of approximately HKD 11.5 million. The Board considers that the loss of the Group was mainly attributable to (i) the decrease in revenue recognized from the on-going projects for the year ended 31 March 2022; and (ii) the decrease in other income and gain due to there was no more government grants obtained from Employment Support Scheme launched by the Hong Kong SAR Government for the year ended 31 March 2022.