Forward Fashion (International) Holdings Company Limited provided earnings guidance for the six months ended 30 June 2023. For the six months ended 30 June 2023 and the information currently available to the Board, the Group is expected to have an improvement in its financial results by recording a net loss of approximately HKD 7 million for the six months ended 30 June 2023 as compared with the net loss of HKD 22.7 million for the six months ended 30 June 2022. The Board is of the view that the results improvement is mainly attributable to the Group's business resumption and stabilisation after the easing of the novel coronavirus (COVID-19) pandemic as well as strict cost control.

The Group has closely monitored the market conditions and adjusted its business strategies and operations. The Group's prompt action in closing down loss-making stores also contributed to the results improvement. The Group's entire staff force has been working at their full stretch.

Although it will take time for the overall recovery of the market and rebounds in consumer confidence, the management of the Company remains optimistic and proactive in coping with the cyclical market adjustments, and has full confidence in its future development.