The board of directors of Extrawell Pharmaceutical Holdings Limited announced that based on the preliminary assessment of the unaudited consolidated management accounts of the Group for the six months ended 30 September 2023 (the ``Management Accounts''), the Group expects to record a loss in the range between HKD 235 million and HKD 240 million, as compared to a profit of approximately HKD 46 million for the six months ended 30 September 2022. The expected turnaround from profit to loss in the current period was primarily attributable to the non-cash item resulted from the fair value change (loss) of the financial assets at fair value through profit or loss i.e. the Group's investments in convertible bonds, while a fair value change (gain) was recorded in the corresponding period of 2022.