The Board of Directors of Baguio Green Group Limited informed the Shareholders and potential investors that the Group has been awarded a 2-year service contract worth approximately HKD 37 million, by the Environmental Protection Department (``EPD'') of the HKSAR Government for the provision of food waste collection services in New Territories West commencing in April 2023. Winning this EPD contract highlights Baguio's position as Hong Kong's market leader in food waste collection. Among the four EPD's recyclable food waste collection service contracts, Baguio has secured half of them (including this contract and Kowloon District contract awarded last year). With the MSW Charging Scheme scheduled to be launched in the second half of this year, people are being encouraged to recycle, including food waste, to reduce the amount of waste sending to landfills. Recycling market in Hong Kong is expected
to grow rapidly. As one of Hong Kong's largest recycling service providers, Baguio is well positioned to capture the significant market opportunities created by ``Zero Landfill'' and strengthen its leadership position in Hong Kong.