The board of directors (the Directors) of Wing Chi Holdings Limited informed the shareholders of the company (the Shareholders) and potential investors that, based on a preliminary assessment of the Group's unaudited consolidated management accounts for the year ended 31 March 2024 (the FY2024) and other information currently available to the Board, the Group expects to record a consolidated net profit attributable to owners of the Company of approximately HKD 3.2 million for the FY2024 as compared to the consolidated net profit attributable to owners of the Company of approximately HKD 9.8 million for the year ended 31 March 2023 (the FY2023). The Board considers that such expected significant decrease in the consolidated net profit attributable to the owners of the Company for the FY2024 is mainly attributable to (i) the absence of a subsidy from the Employment Support Scheme which is funded by the Hong Kong Special Administrative Region Government during the FY2024 (receipt of subsidy from the Employment Support Scheme during the FY2023: approximately HKD 6.0 million) and (ii) severe competition in the foundation and site formation market which leads to the decrease in the gross profit margin during the FY2024 as compared to the FY2023.