Gelonghui, April 10, 丨 China Laibiao (08039.HK) announced that according to the company's current data and preliminary review of the Group's latest unaudited comprehensive management accounts for the year ended March 31, 2023, the Group is expected to record a loss of approximately HK$6.1 million, compared to a profit of approximately HK$600,000 for the year ended March 31, 2022.

The increase in Group losses for the year ended March 31, 2023 was mainly due to (i) lower gross margin due to higher material and labor costs; (ii) increased administrative expenses; and (iii) anticipated credit losses and loss provisions for contract assets, without this factor for the year ended 31 March 2022.