Easyknit International Holdings Limited provided unaudited consolidated earnings guidance for the six months ended September 30, 2023. The board of directors informed the shareholders and potential investors of the Company that based on the preliminary assessment of the unaudited consolidated management accounts of the Group and the information currently available to the Board for the six months ended 30 September 2023 (the "Period"), the Group is expected to record a net loss of not less than HKD 180 million for the Period as compared with a net loss of approximately HKD 8.4 million of the corresponding period in 2022. The increase in net loss was primarily attributable to, among other things, (i) increase in loss on changes in fair value of investment properties; (ii) increase in write-down on properties held for development for sale; and (iii) increase in finance costs.

Such loss was partially offset by (iv) increase in gain on changes in fair value of financial assets at fair value through profit or loss.