Michong Metaverse (China) Holdings Group Limited provided earning guidance for the six months ended 31 December 2022. The board of directors of the Company informed the shareholders of the Company and potential investors that based on a preliminary assessment by the Board with reference to the unaudited management accounts of the Group for the six months ended 31 December 2022 and the information currently available to the Board, the Group expects to record a net profit of approximately HKD 17,633,000 for the six months ended 31 December 2022 as compared to the net loss of approximately HKD 549,000 for the six months ended 31 December 2021. The Board considers the expected net profit for the six months ended 31 December 2022 is mainly attributable to (i) an increase in the revenue from approximately HKD 51,450,000 for the six months ended 31 December 2021 to approximately HKD 66,551,000 for the six months ended 31 December 2022 mainly due to the subscription fee of approximately HKD 31,677,000 arisen from the electronic commerce services in the PRC (Six months ended 31 December 2021: Nil) and (ii) an improvement in gross profit margin from approximately 27.8% for the six months ended 31 December 2021 to approximately 58.0% for the six months ended 31 December 2022.