Sincere Watch (Hong Kong) Limited provided group earnings guidance for the year ended March 31, 2016. For the year, the company expects to incur a net loss as compared with a net profit of approximately HKD 40.2 million for the year ended 31 March 2015. Such a net loss is mainly due to a substantial decrease in the revenue and the gross profit where such decrease is mainly attributable to the continuous slowdown in the luxury retail market for fine watches.