ALPHA PRO HLDGS (00948) announced that, compared to a loss of approximately HK$199 million for the year ended March 31, 2025, the Group expects to record a profit between approximately HK$75 million and HK$90 million for the year ending March 31, 2026. The turnaround from loss to profit is primarily attributable to gains recognized during the year from the disposal of the company's subsidiaries. This includes (i) the disposal of a 70% economic interest in Shenyang Jinyi E-Commerce Co., Ltd., and (ii) the disposal of Hong Kong Alice Trading Limited, which was an indirect wholly-owned subsidiary of the company at the time. Prior to its disposal by the Group in March 2026, Hong Kong Alice Trading Limited had recorded liabilities exceeding HK$135 million according to an arbitration award related to The Infant Food Company Pty Limited. The total gain expected from the disposal of these subsidiaries will exceed HK$130 million. Aside from the consideration received, the main profit from the disposal of Alice Trading, arising from the deconsolidation of its significant net liabilities, is of a non-cash and non-recurring nature.