Tam Jai International Co. Limited provided consolidated earnings guidance for the year ended March 31, 2023. Based on the preliminary assessment of the unaudited consolidated management accounts of the Group for the year ended 31 March 2023 and other information currently available to the Board, it is expected that the Group will record a decrease in the profit attributable to the Shareholders in a range of 30% to 35% as compared to the year ended 31 March 2022.

The decrease in the Group's profit for the Reporting Period was mainly attributable to the following reasons: (1) During the first three quarters of the Reporting Period, business performance in Hong Kong was softened by the lingering effect of the 5th wave of COVID-19 pandemic and the related social distancing measures, in addition to the adverse consumer sentiment due to the economic downturn and the rising operating costs caused by global inflation. As such, profit generated from Hong Kong business during the Reporting Period was unavoidably impacted despite the business in the last quarter has been picking up in moderate pace with much relieved social distancing measures and the reopening of border. (2) The Company faced tough market conditions for its investment in new geographic locations outside Hong Kong.

The business in Mainland China was heavily disrupted by the multiple rounds of lockdown and its related social distancing measures during the Reporting Period. Business development has been slowed down until the lifting of social distancing measures and border restrictions in February 2023. Business in Singapore recovered notably in the first half of the Reporting Period, yet the recovery was interrupted by local labour shortage during the second half of the Reporting Period.

In Japan, while the company were adapting brand into the local culture and in the process of enhancing the operation efficiency and service quality, the higher-than-expected operating expenses pulled down performance, yet the company still managed to increase brand's awareness in the local market.