Easyknit International Holdings Limited provided consolidated earnings guidance for the year ended 31 March 2023. For the period, the company is expected to record to decrease by more than 90% as compared with 2022. The decrease in profit was primarily attributable to, among other things, (i) the decrease in revenue; (ii) the increase in finance costs; (iii) the increase in loss on changes in fair value of fair value through profit or loss; and (iv) the decrease in deemed gain on bargain purchase of additional interest in an associate. Such decrease in net profit was partially offset by (v) increase in gain on change in fair value of investment properties and (vi) decrease in
impairment loss on financial assets.