Man Sang International Limited provided consolidated earnings guidance for the year ended March 31, 2024. Based on the preliminary assessment of consolidated management accounts of the Group for the year ended 31 March 2024 ("FY2024") and the information currently made available to the Board, the Group is expected to record a substantial loss for FY2024 as compared to the loss of approximately HKD 483.3 million for the year ended 31 March 2023. The substantial increase in loss for FY2024 was mainly attributable to the anticipated recognition of non-cash (i) impairment loss on right-of-use asset; (ii) impairment loss on property, plant and equipment; (iii) impairment loss on properties held for sales; and (iv) decrease in fair values of investment properties in view of the legal proceedings mentioned above, as a result of which further decrease in fair value might be recognised subject to the future development of the legal proceedings.

The Company wishes to emphasize that the above impairment loss will not have any cash flow impact to the operation of the Group.