Huabang Technology Holdings Limited provided group earnings guidance for the year ended 31 March 2023. It is expected that the Group will record a net loss of approximately HKD 106 million to HKD 130 million for the year ended 31 March 2023 as compared to the net loss of approximately HKD 239 million for the last year ended 31 March 2022, which was mainly attributable to the combined effect of the following factors: (i) the significant decrease in revenue and gross profit in the trading business and financial services business of the
Group for the year; (ii) decrease in overall general and administrative expenses; and (iii) decrease in provision for expected credit loss allowance on the Group's account receivables for the year.