Southern Packaging Group Limited provided earnings guidance for the six months period ended June 30, 2022. Based on the preliminary figures, the Group expects to report a net loss for the first half of fiscal year 2022 due to the decrease in sales revenue and lower profit margin. The sales of the Group were affected by the lockdown in Shanghai and surrounding areas due to the recent insurgence of the Covid- 19 cases.

As a result, the Group's production and delivery plans were affected during the period. The lower profit margin was attributable to the increase in purchase price of raw materials, labour costs and energy costs.