MS Concept Limited provided consolidated earnings guidance for the year ended 31 March 2024. The group is expected to record consolidated loss of not more than HKD 20.0 million for the year ended 31 March 2024 (Year) as compared to the audited consolidated profit of HKD 4.0 million in 2023. To the best of the directors knowledge, information and belief having made reasonable enquiries, the consolidated loss for the Year was mainly attributable to (a) the significant decrease in the amount of various government subsidies received by the Group during the Year, as compared to the year ended 31 March 2023, including but not limited to subsidies pursuant to the Food Licence Holders Subsidy Scheme under the Anti-epidemic Fund and the Employment Support Scheme; (b) the significant decrease in the amount of the rent concession offered by the landlords during the Year, as compared to the year ended 31 March 2023; and (c) the recognition of impairment losses on property, plant and equipment and right-of-use assets during the Year.