KuangChi Science Limited provided consolidated earning guidance for year ended 31 December 2023. For the year ended 31 December 2023, the Group expects that it may record a significant decrease in net loss for the year ended 31 December 2023 (?FY2023?) with a net loss ranging from approximately HKD 6,000,000 to HKD 8,000,000 for FY2023 as compared to a net loss of approximately HKD 67,912,000 for the year ended 31 December 2022 (?FY2022?). The expected decrease in the unaudited net loss of the Group is primarily attributable to: During the year, the Group disposed of its equity in Irisity AB, an overseas listed company, and recognized a loss on changes in fair value of approximately HKD 600,000 (FY2022: a loss on changes in fair value of approximately HKD 19,500,000); During FY2023, the Group improved its marketing strategy and further reduced its operating expenses through effective control, with a significant decrease in selling and marketing expenses of approximately HKD 19,700,000; and During FY2023, the Group continuously enhanced its internal control, strictly cut costs and increased efficiency, resulting in a significant decrease in administrative expenses of approximately HKD 10,000,000.