Texwinca Holdings Limited provided consolidated earnings guidance for the year ended 31 March 2023. The board of directors of the Company wishes to inform the shareholders and potential investors of the Company that, based on the preliminary review of the unaudited consolidated management accounts of the Group, it is expected that consolidated profit attributable to ordinary equity holders of the Company for the year ended 31 March 2023 may drop by around 65% as compared with the corresponding period in 2022. Based on the information currently available, the Board considers that the drop in consolidated profit attributable to ordinary equity holders of the Company was primarily due to, including but not limited to, the following reasons: The turnover and gross profit margin of the textile business dropped during the year because the consumer sentiment was affected by the global inflation and the weak demand of retailers due to their overstock caused by COVID-19 pandemic in recent years; and Decrease in sales of retail and distribution business due to the strict COVID-19 policy of the mainland China in 2022.