C&D Newin Paper & Pulp Corporation Limited provided unaudited consolidated earnings guidance for the financial year ended 31 March 2022. For the period, the group is expected to record a consolidated net loss from continuing operations ranging from approximately HKD 142 million to HKD 162 million for the Reporting Period, compared to a consolidated net profit from continuing operations of approximately HKD 472 million (``Net Profit'') for the financial year ended 31 March 2022 (the ``Previous Year'') (after exclusion of the net profit from discontinued operations of approximately HKD 2,086 million for the Previous Year). The expected change from Net Profit for the Previous Year to Net Loss for the Reporting Period was mainly attributable to the following factors: (i) absence of the one-off gain on re-consolidation of a deconsolidated paper manufacturing subsidiary of the Company of approximately HKD 466 million recorded during the Previous Year; (ii) the unexpected and prolonged overhaul and downtime of production equipment caused by the regional epidemic control, which lasted about one-third of the scheduled production period of the Group`s paper manufacturing business during the Reporting Period, and thereby adversely affected both production and sales of the Group; (iii) the frequent sporadic outbreak of COVID-19 in China during the Reporting Period, which weakened the domestic market demand; and (iv) the decrease in the cost of major raw materials being slower than the drop in the products' selling price during the Reporting Period which imposed pressure on the production cost control and resulted in a squeeze in gross margin.