Lotus Horizon Holdings Limited provided earnings guidance for the year ended 31 March 2021. For the period, the Group is expected to record a decrease of approximately 50% to 60% in its consolidated net profit (after excluding the impact of the one-off listing expenses recognised during the Financial Year) for the year ended 31 March 2021 as compared to the audited consolidated net profit of approximately HKD 47.8 million for the year ended 31 March 2020 (after excluding the impact of the one-off listing expenses of approximately HKD 13.6 million recognised during the Corresponding Year). The expected decrease was mainly attributable to the combined effect of: the decelerated progress of the Group's ongoing projects due to the persistent adverse impact of the COVID-19 pandemic and delay of construction progress, resulting in a reduction of revenue and an increase in project overhead costs and subcontracting costs; and the increase in operating and administrative expenses attributable to the increase in staff costs, legal and compliance costs and professional fees incurred after the listing of the Company's shares on the Main Board and the relocation costs incurred for the change of the principal place of business in Hong Kong of the Company.