Ruixin International Holdings Limited provided earnings guidance for the year ended 31 December 2023. For the year, the company is expected to report an estimated loss of around HKD 72.0 million as compared with the loss of approximately HKD 58.2 million for the year ended 31 December 2022 (the "Corresponding Period"). The estimated increase in the loss for the Reporting Period was mainly due to, among others, the increase in the operating loss and the increase in imputed interest expenses.

The increase in the operating loss for the Reporting Period was mainly due to, among others, (i) the decrease in revenue mainly due to amid the rapid advancement in the industry and the weakening of the worldwide economic environment, orders were lost as the Group's products were unable to meet the new specifications of those customers; (ii) the turn from gross profit to gross loss mainly due to inventory impairment recognised for the Reporting Period; and (iii) one-off expenses in administrative costs to safeguard the disclosure of the Group's knowhow to its competitors.