CHYY Development Group Limited provided consolidated earnings guidance for the six months ended 30 June 2023. The board of directors of the company informed the shareholders of the company and potential investors that based on the preliminary assessment of the unaudited consolidated management accounts of the Company and its subsidiaries (Group) for the six months ended 30 June 2023, it is expected that the net loss after tax for the Period will reduce by approximately 50% to 60% from HKD 37,163,000 as recorded for the corresponding period in last year. The reduction in net loss after tax for the Period was primarily due to: the improvement in gross profit margin; the decrease in sales and distribution expenses; the decrease in administrative expenses; and the reduction in loss of the associates.