The board of directors of Shenwan Hongyuan (H.K.) Limited announced that based on the preliminary review of the unaudited management accounts of the for the year ended 31 December 2021, the unaudited consolidated profit after tax of the Group for the year ended 31 December 2021 is expected to record a decrease of approximately 90% as compared with that for the same period of 2020. Such expected decrease was mainly attributable to a substantial increase in the expected credit loss of fixed income products in institutional services and trading business during the fourth quarter of 2021.