Kwoon Chung Bus Holdings Limited provided loss guidance for year ended 31 March 2021. For the period it is expected that the Group will record a consolidated loss before taxation of approximately HKD 140 million for the Current Year as compared to a consolidated loss before taxation of approximately HKD 63 million for the year ended 31 March 2021. The significant increase in loss before taxation for the Current Year was mainly attributable to the following factors: Reduction in subsidies which were granted by the Government of the Hong Kong Special Administrative Region (the Government) under the Anti-epidemic Fund.

Approximately HKD 242 million (including HKD 141 million under the Employment Support Scheme) were granted in the Previous Year whereas such subsidies were reduced to approximately HKD 34 million in the Current Year. As most of the travel restrictions and border control measures implemented by the Government in response to the COVID-19 pandemic remained in place, it has brought the Group's core cross-boundary transport services to an unprecedented standstill. Despite the favourable revenue growth of local transport services, it was largely offset by the operational loss resulted from cross-boundary transport services, which have adversely impacted on the Group's financial performance for the Current year.