Hi-Level Technology Holdings Limited provided earnings guidance for the nine months ending September 30, 2022. For the period, the company expects to record a loss attributable to owners of the Company of approximately HKD 15,000,000 to HKD 17,000,000 for the nine months ended 30 September 2022 as compared to the profit attributable to owners of the Company for the nine months ended 30 September 2021. Such loss was mainly attributable to the following reasons: the decline in revenue due to weak demand in the consumer electronic market caused by unfavorable global business environment such as rising inflation
worldwide, interest rate hikes in the US and city lockdown in China; and certain loss making shipments recorded in the third quarter of 2022 related to downwards trends of prices of panels and panel modules due to oversupply and fierce price competition.