Perfect Group International Holdings Limited provided earnings guidance for the year ended 31 December 2023. The Group expect to record an increase of approximately 20% to 30% in the net profit compared to that for the year ended 31 December 2022. Such expected increase is mainly due to the significant increase in impairment loss in the ECL model resulting from the trade receivables in the PRC recorded for year ended 31 December 2022 whilst there
is no such significant impairment loss in the ECL model recorded for the year ended 31 December 2023, and such impact is partially offset by the drop in financial performance of the jewellery business of the Group.