Noble Engineering Group Holdings Limited provided earnings guidance for the first quarter ended 30 June 2023. The company announced that based on a preliminary review on the unaudited consolidated management accounts of the Group for the three months ended 30 June 2023 and the information currently available to the Board, the Group is expected to record consolidated net loss within the range of approximately HKD 1.0 million to HKD 5.0 million for the three months ended 30 June 2023, as compared to a consolidated net profit of approximately HK$2.0 million of the corresponding period in 2022. It is mainly attributable to a decrease in gross profit margin for the Group's business due to (i) continuing proactive pricing strategy in response to increasingly competitive market conditions; and (ii) the increase in direct costs incurred from (a) unexpected additional subcontracting costs incurred to deal with unexpected changes to the on-site arrangements for certain construction projects of the Group and (b) delays in certain projects.