MECOM Power and Construction Limited provided earning guidance for the year ended 31 December 2023. The Board wishes to inform the shareholders and potential investors of the Company that, based on the unaudited consolidated management accounts of the Group for the year ended 31 December 2023 (the "Year") and other information currently available to the Board, the Group is expected to record a profit for the Year in the range of approximately MOP 8 million to MOP 11 million, while the profit for the year ended 31 December 2022 was approximately MOP 92 million (the "Profit Warning"). The Board considers that the deterioration in the operating results of the Group for the Year was mainly caused by: the recognition of impairment losses of approximately MOP23 million due to the default of a customer in the payment of monies by the due date; and a significant decrease in the Group's revenue and profit from the construction business for the Year due to the unexpected delays in the certification of contract works and variation orders that were substantially completed during the Year for a hotel complex in an integrated resort in Cotai, Macau.