Man Yue Technology Holdings Limited provided group earnings guidance for the six months ended 30 June 2023. The Group is expected to record a net loss attributable to the Shareholders in the range of approximately HKD 12.5 million to HKD 15.5 million for the Period, as compared with a net profit attributable to the Shareholders for the corresponding period in 2022 of approximately HKD 30.4 million. The anticipated turnaround of the Group's results from profit to loss is mainly attributable to: (i) a decrease in the sales revenue by approximately 23% as compared with the corresponding period in 2022 mainly as a result of the global economy downturn which weakened consumer sentiment and dampened market demand across the electronics industry; (ii) a substantial decrease in gross profit as compared with the corresponding period in 2022 mainly caused by the ongoing inventory destocking cycle by end customers which led to a decline in demand for the Group's products; and (iii) an increase in finance costs caused by aggressive interest rate hikes during the Period.