Vistar Holdings Limited provided unaudited earnings guidance for the year ended December 31, 2022. For the year, the company expected that the consolidated profit and total comprehensive income attributable to the Shareholders will be lowered by approximately HKD 8.5 million or 29.8% from the consolidated profit and total comprehensive income of approximately HKD 28.5 million for the year ended March 31, 2021, reducing to approximately HKD 20.0 million for the Reporting Period. The Board considers that such change was mainly attributable to offsetting events including listing expenses incurred of approximately HKD 12.3 million during the Reporting Period in relation to the proposed transfer of the listing of the shares of the Company from GEM to the Main Board of the Stock Exchange as disclosed in the announcement of the Company dated June 17, 2021.

The reasons and benefits of the Proposed Transfer of Listing were detailed in the Announcement and the Directors maintain the view that the Proposed Transfer of Listing is in the interest of the Group and the Shareholders as a whole; improvement in gross profit generated from core business of the Group of approximately HKD 12.0 million driven by increased revenue from installation work performed; and increased administrative and other operating expense associated with core business of the Group of approximately HKD 4.2 million which corresponds to business volume in line with the mentioned improvement in gross profit.