Pan Hong Holdings Group Limited provided group earnings guidance for the year ended 31 March 2023. For the year, the company expects to report a lower revenue and a loss after tax for Fiscal Year 2023 compared to the financial year ended 31 March 2022. The lower revenue is due to fewer transfer of control of property units of Pan Hong Run He in FY2023 compared to more transfer of control of property units of Pan Hong Run He in FY2022.

As the Group is primarily engaged in property development business, revenue recognition is dependent on the launch of new projects and transfer of control of sold properties. Consequently, revenue and profit for the Group looking across periods will appear irregular.