Lotus Horizon Holdings Limited provided earnings guidance for the six-month ended September 30, 2021. For the period, the Group is expected to record a consolidated net loss between HKD 2 million and HKD 5 million for the six months ended 30 September 2021 as compared to the unaudited consolidated net profit of approximately HKD 8.9 million for the six months ended 30 September 2020. The Board considers that the turn from profit to loss was mainly attributable to the combined effect of: the decline in gross profit margin of certain projects awarded in the year ended 31 March 2021 and the Interim Period due to fierce competition in the fa?ade works and building metal finishing works markets as a result of the prolonged impact of the COVID-19 pandemic; the increase in overhead costs and subcontracting costs incurred for several on-going projects, resulted from the delay in construction progress and persistent adverse impact of the COVID-19 pandemic; and the substantial increment in market prices of building materials during the Interim Period.