Fountain Set (Holdings) Limited provided consolidated earnings guidance for the six months ended 30 June 2023. For the period, the company expects net loss attributable to owners of the Company of approximately HKD 82 million for the six months ended 30 June 2023 as compared to the net profit attributable to owners of the Company of approximately HKD 70 million for the six months ended 30 June 2022. The expected net loss attributable to owners of the Company for the six months ended 30 June 2023 was mainly attributable to the challenges encountered by the global textile and garment sector.

During the first half of 2023, the Russia-Ukraine war persisted and continued to exert significant effects on the global economy. Consequences encompass shortages in energy and food supply, contributing to the escalation of global inflation. Global economic growth remains sluggish, marked by fluctuating exchange rates and escalating interest rates.