Elate Holdings Limited provided earnings guidance for the year ended 31 December 2023. For the year, it is expected that the Group to record a net profit attributable to Shareholders for the year ended 31 December 2023 of approximately USD 1.8 million (corresponding period in 2022: net profit of USD 0.6 million). The Board considers that the increase in net profit for the year ended 31 December 2023 was mainly attributable to the decrease in administrative expenses and the recognition of a fair value gain on financial assets at fair value through profit or loss, net off by the decrease in gross profit due to the increase in manufacturing costs in the manufacture and sales of electronic products business and the turnaround from reversal of impairment loss to impairment loss on financial assets.