The board of directors of Alpha Professional Holdings Limited announced that the Group expects to record a loss between HKD 35.0 million to HKD 45.0 million for the year ended 31 March 2024, as compared to a profit of approximately HKD 1.3 million (including continuing and discontinued operations) for the year ended 31 March 2023. The expected turnaround from profit to loss was primarily attributable to the combined effect of: a significant decrease in revenue for the year ended 31 March 2024 as compared to last year, which was mainly due to the decrease in the sales volume of milk powder; the recognition of impairment losses of financial assets for the year ended 31 March 2024 according to the Group's accounting policy in respect of the expected credit losses; the recognition of a non-recurring purchase discount of approximately HKD 25.4 million for the year ended 31 March 2023 regarding the subscription of 9,541,620 shares of Bubs Australia Limited at nil consideration, whereas no such discount was recognised for the year ended 31 March 2024; and the reversal of a time-barred other tax payable amounting to approximately HKD 11.5 million for the year ended 31 March 2024.