Tokyo Chuo Auction Holdings Limited provided unaudited consolidated earnings guidance for the year ended 31 March 2024. For the year, the company expects consolidated net loss of approximately HKD 27.0 million for the year ended 31 March 2024 as compared to the consolidated net loss of approximately HKD 8.3 million for the year ended 31 March 2023. The Board considers that the increase of net loss was primarily attributable to (i) decrease in revenue from art auction and related business for the year ended 31 March
2024, as compared to the same period in last year, (ii) impairment loss on financial assets and (iii) equity-settled share-based payments recognised for the year. The decrease in the
revenue from art auction and related business was mainly due to unpredictability in the market demand, value and conditions for artworks and development of art auction
market in general, which adversely affected by the uncertainty of global economy and the financial markets.