The board of directors of ITE (Holdings) Limited announced the shareholders of the Company and the potential investors of the Company that, based on the preliminary assessment of the latest management accounts of the Group and all information currently available to the Board, the Group is expected to record a decrease in revenue by approximately 25% to HKD 27 million for the nine months ended 31 December 2021, as compared with the revenue of approximately HKD 36 million for the corresponding period in 2020. The decrease in revenue was primarily attributable to, among other things, an end of a major contract, contract details as per voluntary announcements dated 10 January 2019 and 19 October 2021.