Novacon Technology Group Limited provided consolidated earnings guidance for the three months ended June 30, 2023. The group is expected to record a net loss of approximately HKD 11.8 million for the period as compared to a net profit of approximately HKD 2.7 million for the three months ended 30 June 2022. Based on the information currently available to the Company, the change from net profit position for the three months ended 30 June 2022 to the expected net loss position for the three months ended 30 June 2023 was mainly attributable to (i) the increase in employee benefit expenses primarily due to the one-off staff bonus paid in May 2023; (ii) the decrease in revenue; and (iii) the increase in impairment losses of the Company's financial and contract assets.