Central Holding Group Co. Ltd. provided consolidated earnings guidance for the year ended December 31, 2021. The board of directors of the Company wishes to inform the shareholders of the Company and potential investors that, based on the Board's preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 December 2021 and the information currently available to the Board, the Group is expected to record a net profit of not less than HKD 50 million for the year ended 31 December 2021 as compared with a net loss of approximately HKD 0.65 million for the nine months ended 31 December 2020.

The turnaround from net loss to net profit was primarily attributable to (i) an increase in turnover; (ii) an increase in gross profit margin; (iii) the launch of bungalow sales under the rural and wellness project in Quzhou, the People's Republic of China; and (iv) a fair value gain on investment properties through profit and loss, for the year ended 31 December 2021 as compared with the corresponding period in 2020.