Grand Power Logistics Group Limited provided earnings guidance for the nine months ended 30 September 2022. For the period, the company expects record a revenue of approximately HKD 517.8 million for 3Q2022, as compared to a revenue of approximately HKD 538.1 million for the corresponding period in 2021 (3Q2021); a gross profit of approximately HKD 22.2 million for 3Q2022, as compared to a gross profit of approximately HKD 48.1 million for 3Q2021; and a net loss of approximately HKD 8.8 million for 3Q2022, as compared to a net profit of approximately HKD 14.9 million for 3Q2021. The expected substantial decrease in gross profit and the turning from net profit to net loss was mainly attributable to the widened year-on-year contraction of the economy in Hong Kong in the third quarter of 2022; the overall decrease in demand for the freight services of the Group due to the worsened external environment and continued disruptions to cross-boundary cargo flows which dealt a serious blow to Hong Kong's exports; and the continuous high freight costs despite the easing in supply chain disruptions that were built up over the pandemic and the reduced port congestion level in the third quarter of 2022, and the inability of the Group to transfer the said surging costs to its customers which further drove down the profit margin.