Huscoke Holdings announced that the Board preliminary estimates the Group to record the profit before tax of approximately HK$1.6 billion for the fifteen months ended 31 March 2023, as compared with the loss before tax of approximately HK$21 million of the Company as of 31 December 2021, it’s mainly attributable to the gain from the increase of the net asset value of the Company for completing the consolidation of the Target Subsidiary (which holds the Target Assets) and the disposal of a subsidiary, GRG Huscoke (Shanxi) Limited* (山西金岩和嘉能源有限公司) in the financial year of 2022/23; and the credit losses caused by Energy Technology failed to repay on a timely basis.