Kin Shing Holdings Limited provided unaudited consolidated earnings guidance for the year ended March 31, 2018. For the year, the group expects a substantial decrease in net profit as compared to the consolidated net profit of approximately HKD 67.6 million for the year ended March 31, 2017. The substantial decrease in the net profit was mainly attributable to, among other factors, the aggregate effect of the (i) three sizable formwork works projects (total contract amount of approximately HKD 448.5 million and were being awarded to the Group during the period from October 2017 to January 2018) are at the initial stage of the construction cycle, hence the revenue generated for the year 2018 is minimal; and (ii) there were downward adjustments in the original contract sum and variation orders of certain formwork works projects as a result of revisions of the construction plans by the customers; Increase of direct costs as a result of (i) an increase in the direct staff costs and subcontracting fees due to the unexpected delay in the commencement of certain formwork works projects which prolonged the duration of the construction programmers and the additional costs caused by the unexpected changes to the on-site arrangements; (ii) an increase of depreciation expense arising from newly acquired scaffold equipment of over HKD 10 million. The acquisition of these scaffold equipment was financed by the proceeds of the share offer made by the Company on June 16, 2017; and (iii) a decrease in the gross profit margin of newly awarded formwork works projects as a result of the keen competition for new formwork works contracts in the market; increase in the finance cost due to the increase in interest expenses on the existing and the new bank loans drawdown during the year ended 31 March 2018; and increase in the administrative expenses which include increase in staff costs (mainly due to the increase in remuneration and staff benefits), and professional fees subsequent to the listing of the company's ordinary shares on the Main Board; and non-recurring marketing expenses.