Kingbo Strike Limited provided unaudited consolidated earnings guidance for the six months ended 31 December 2022. For the period, the the Group is expected to record a loss attributable to equity owner of the Company ranging from approximately HKD 9 million to HKD 12 million, as compared to the loss attributable to equity owner of the Group for the corresponding period in 2021 in the amount of HKD 13.5 million. The decrease of loss of the Group was primarily due to the combined effect of: Deteriorate in solar power business segment results to approximately HKD 3.7 million profit (excluding the effect of expected credit loss) for the six months ended 31 December 2022, as compared to approximately HKD 7.9 million profit for the six months ended 31 December 2021.

Deteriorate in electrical distribution system segment results to approximately HKD 2.2 million profit (excluding the effect of expected credit loss) for the six months ended 31 December 2022, as compared to approximately HKD 8.4 million profit for the six months ended 31 December 2021. Allowance of expected credit loss in respect of trade receivables and contract assets decreased from HKD 5.0 million for the six months ended 31 December 2021 to a reversal of approximately HKD 4.9 million for the six months ended 31 December 2022.