Crosstec Group Holdings Limited provided consolidated earnings guidance for the year ended June 30, 2018. The board of directors of the company informed the shareholders of the company and potential investors that, based on the information currently available, the group is expected to record consolidated net loss for the year ended 30 June 2018 ranging from approximately HKD 22 million to approximately HKD 24 million as compared to the consolidated net loss of approximately HKD 20.7 million for the year ended 30 June 2017 (including non-recurring listing expenses of approximately HKD 4.9 million). The Board considers that the increase in the consolidated net loss of the group for the current year was mainly attributable to the following reasons: (i) the decrease in revenue and gross profit, which was primarily due to the delay of implementing the business strategies in relation to renovation and new shops roll out of certain major customers of the Group; and (ii) the relocation of its headquarter and principal place of business in Hong Kong during the Current Year with higher rental expenses.