Crosstec Group Holdings Limited provided group earnings guidance for the year ended 30 June 2023. The board of directors of the company informed the shareholders of the company and potential investors that, based on the information currently available and the preliminary review on the Group's unaudited consolidated management accounts for the year ended 30 June 2023, the Group is expected to record a consolidated net loss ranging from approximately HKD 50.7 million to HKD 56.1 million for the Year as compared with that of approximately HKD 21.9 million for the year ended 30 June 2022. The Board considers that the increase in the consolidated net loss of the Group for the Year is mainly attributable to the following reasons: the change from gross profit to gross loss due to the increase in project cost of certain large interior solutions projects as a result of the unexpected delay of the relevant projects under the COVID-19 pandemic; the increase in finance cost due to the increase in the borrowings during the year ended 30 June 2023; and the recognition of impairment loss on certain property, plant and equipment of the Group of approximately HKD 8.7 million due to the deteriorated economic environment and uncertain outlook of the Group's business.