China New Consumption Group Limited provided unaudited consolidated earnings guidance for three months ended 30 June 2023. For the period, the company expects profit attributable to the owners of the Company ranging from approximately HKD 1.0 million to approximately HKD 2.0 million for the three months ended 30 June 2023 as compared to the loss attributable to its owners of approximately HKD 14.8 million for the corresponding period in 2022. The Board considers that the turnaround in the results for the three months ended 30 June 2023 is mainly due to (i) the increase in revenue due to increase in rental income from machinery; (ii) the increase in gross profit due to higher profit margins for newly awarded construction projects and rental of machinery; and (iii) the decrease in administrative expenses due to decrease in legal and professional fee and marketing fee.