Water Oasis Group Limited provided consolidated earnings guidance for the six months period ended 31 March 2024. For the period, the Group expects to record a lower net profit attributable to the Shareholders of not less than HKD 40.0 million as compared to approximately HKD 57.1 million for the six months period ended 31 March 2023. Such decrease was mainly due to: increase in staff costs attributable to high-performing staff retention initiatives; increase in marketing expenses attributable to investments in high-profile, high-impact advertising campaigns designed to enhance the Group's brand image; and the recognition of non-cash goodwill impairment of approximately HKD 11.4 million.

To enhance the Group profitability, the Group will focus on retail selling of HABA products, a line of high quality skincare and beauty products originating from Japan, in Hong Kong and not to extend the distributor rights of HABA products in Mainland China attributable to underwhelming performances.