The board of directors of China Pipe Group Limited informed the shareholders and potential investors of the Company that, based on the preliminary assessment of the Company with reference to the unaudited consolidated management accounts of the Group for the six months ended 30 June 2022, it is expected that the Group may record: an increase in profit attributable to equity holders of the Company for the Reporting Period by approximately 35%-45%, as compared with the profit attributable to equity holders of the Company over the same period of 2021 of HKD 22.6 million (as restated); or an increase in profit attributable to equity holders of the Company for the Reporting Period by approximately 11%-20%, as compared with the profit attributable to equity holders of the Company over the same period of 2021 of HKD 27.6 million (as previously stated). The anticipated increase in profit was mainly attributable to: the increased demand for pipes and fittings for the construction of community isolation facilities brought by the new wave of Covid-19 pandemic in Hong Kong in the first quarter of 2022; and the corresponding period comparatives presented were restated due to the effects of change in accounting policy.