Yue Kan Holdings Limited provided earnings guidance for the six months ending November 30, 2021. For the period, the company expected to record a decrease in the net profit for the period by approximately 40.0% to 60.0% as compared with that of the corresponding period in 2020. Profit attributable to equity shareholder of the Company for the six months ended 30 November 2020 amounted to approximately HKD 22.0 million.

Such decrease was primarily attributable to, among other factors, decrease in number of sizeable projects undertaken by the Group and the lowered tender price as a result of keen competition in the Hong Kong construction market in general; increase in rental cost of vessels and price of diesel fuel due to inflation and market price fluctuations; and significant initial costs were incurred at the early stages of two projects undertaken by the Group during the six months ended 30 November 2021, both fore mentioned projects are ongoing as at the date of this announcement.