The board of directors of Top Spring International Holdings Limited informed the shareholders and potential investors of the Company that, based on a preliminary assessment by the Board on the unaudited consolidated management accounts of the Group for the year ended 31 December 2023, the Group is expected to record a net loss in the range of approximately HKD 800 million to HKD 1,000 million for the Year as compared to a net loss of approximately HKD 184 million for the year ended 31 December 2022. Such expected increase in net loss was mainly due to a substantial decrease in gross profit which is in turn attributed to the impairment of certain inventories during the Year.