Esprit Holdings Limited provided unaudited consolidated earnings guidance for the year ended 31 December 2023. For the period, the company expects to record a net loss attributable to the Shareholders of approximately HKD 1,901 million for the Year, as compared to the net loss attributable to the Shareholders of approximately HKD 664 million for the year ended 31 December 2022, which represents an increase of approximately 186.3%. The Board considers that the net loss for the Year is mainly attributable to the decrease in revenue and the inability to reduce operation expenses due to long-standing historical structural issues.

The decrease in revenue also led to the Group's gross profit decreased by approximately 12.9% from approximately HKD 2,878 million for the Comparison Year to approximately HKD 2,508 million for the Year. Furthermore, there were write-backs of provision for inventories and write-back of provisions for impairment of trade debtors totaling approximately HKD 321 million for the Comparison Year while there were impairments on those two items of approximately HKD 102 million for the Year.