New Wave Holdings Ltd. provided earnings guidance for the financial year ended 31 March 2023. For the year, the Group expected to report a loss, as compared to a profit for the corresponding period last year ended 31 March 2022, mainly due to the following: Lower revenues recorded in the second half of financial year 2023 resulting from lesser manufacturing activities generated by the Group's customers; Lower corresponding gross profit margin recorded as a result of weaker demand.