On April 20, 03839.HK announced that the Group expects to record an unaudited consolidated loss of approximately US $2 million for the three months ended March 31, 2022, compared with a profit of US $5.3 million for the same period last year.

The change from profit to loss is mainly due to the unsatisfactory performance of the group's industrial business. The profit attributable to the joint venture (Yi Chu Mingtong Investment Co., Ltd.) is expected to deteriorate from a profit of $4.4 million in the first quarter of 2021 to a loss of about $3 million in the first quarter of 2022.