Citychamp Watch & Jewellery Group Limited provided earnings guidance for the six months ended June 30, 2023. For the period, the group is expected to record profit after tax above HKD 15,000,000 for the six months ended 30 June 2023 whereas the Group recorded loss after tax of approximately HKD 54,650,000 for the six months ended 30 June 2022. The board of directors believes that the abovementioned turn from loss to profit is mainly due to the fact that there has been a significant improvement in the banking business for the first half of 2023 and at the same time, the loss of the watches and timepieces businesses has been narrowed.

The board of directors expects the watches and timepieces businesses to be optimistic in the second half of the year, and the Group will continue to supervise the watches and timepieces businesses diligently.