Ulferts International Limited provided earnings guidance for the year ended 31 March 2023. The Group expects to record a net loss of not more than HKD 22.0 million (2022: net profit of HKD 4.1 million) for the year ended 31 March 2023. Such change is mainly due to (i) a less than 5% decline in the Group's total revenue during the Year; and (ii) the recognition of a significant amount of impairment allowance relating to the right-of-use assets and fixed assets after the impairment assessment during the Year, as a result of a tough business operating environment.