Sitoy Group Holdings (01023.HK) announced that the group expects a decrease of approximately 45% to 55% in the company's attributable profit to equity holders for the year ending on June 30, 2024 compared to the same period in 2023, which is approximately HKD 0.203 billion.

This is mainly due to: 1) global inflation pressure and geopolitical tensions, which have brought uncertainty to the global economy and reduced demand for our manufacturing business, thereby affecting our sources of income; and 2) foreign exchange losses generated for the year ending on June 30, 2024, while foreign exchange gains for the same period in 2023 were approximately HKD 40.402 million.