Regina Miracle International (Holdings) Limited provided consolidated earnings guidance for the year ended 31 March 2024. For the year, the group is expected to record a drop in net profit of not more than 65% and drop in adjusted net profit (net profit excluding restructuring cost) of not more than 30%, for the year ended 31 March 2024 as compared to the last financial year. Such drop was mainly attributable to the following reasons: (i) a decrease in sales as a result of general global economic downturn and the continuous destocking cycle underwent by its customer brands in this fiscal year, which resulted in operating deleveraging and a drop in production efficiency; (ii) an incurrence of restructuring cost in relation to the relocation of production base in China for production layout optimization; and (iii) the rising interest rates globally leading to an increase in finance cost.