The board of directors of the Golden Resources Development International Limited announced that, based on the preliminary review of the unaudited consolidated management accounts of the Group, it is expected that the Group may record a net profit attributable to shareholders of the Company of approximately HKD 18,000,000 for the year ended 31 March, 2022, as compared to a net profit attributable to shareholders of the Company of HKD 40,212,000 for last year ended 31 March, 2021. Based on the information currently available, the Board considers that the decrease in profit for the year ended 31 March, 2022 was mainly attributable to the net effect of (i) net unrealized loss on financial assets at fair value through profit or loss of approximately HKD 3,500,000 for the year ended 31 March, 2022 as compared to net unrealized gain of approximately HKD 37,883,000 for last year ended 31 March, 2021; (ii) net impairment loss of approximately HKD 9,800,000 on right-of-use assets and equipment of convenience store operation; (iii) adverse impact of COVID-19 pandemic on the Group's core business results and (iv) gain of approximately HKD 24,368,000 on deemed acquisition of subsidiaries, arising from remeasurement of fair value of previously held equity interest in associates and deemed acquisition of additional equity interest, during the year ended 31 March, 2022.