The board of directors of the Seacon Shipping Group Holdings Limited announced that, based on a preliminary assessment by the Board with reference to the unaudited consolidated management accounts of the Group for the year ended 31 December 2023 and the information currently available to the Board, the profit attributable to shareholders of the Company for the Period is expected to decrease by approximately 60% to 70% as compared to the profit attributable to shareholders of the Company for the year ended 31 December 2022. Such a decrease was mainly due to, among others, (i) a decrease in revenue as a result of a decrease in the global trade and demand for shipping services during the Period and a decrease in the market charter and freight rates during the Period; (ii) an increase in depreciation expenses as a result of the addition of several controlled vessels during the Period; (iii) an increase in selling, general and administrative expenses, which was mainly due to the non-recurring listing expenses incurred during the Period in relation to the listing of the shares of the Company on the Stock Exchange in March 2023; (iv) an increase in finance costs, which was mainly due to an increase in external financing as a result of the addition of several controlled vessels during the Period and the increased interest rates as a result of the interest rate hikes by the United States Federal Reserves during the Period; and (v) a decrease in the share of net profit of associates, which was mainly due to a decrease in profitability of several associates of the Company as a result of a decrease in the global trade and demand for shipping services during the Period and a decrease in the market charter and freight rates during the Period.