Hypebeast Limited provides consolidated earnings guidance for the year ended 31 March 2023. The Group is expected to record a decrease in profit before tax from approximately HKD 142.1 million for the year ended 31 March 2022 to no more than HKD 18.5 million for the year ended 31 March 2023 (the "Reporting Period"). Based on the information currently available to the Board, such expected decrease in profit before tax was mainly attributable to (i) the one-off professional fee related to the proposed merger with Iron Spark I Inc., which was subsequently terminated in December 2022; (ii) the increase in impairment losses on the intangible assets (primarily comprising cryptocurrency and NFT holdings) and various property, plant and equipment and right of use assets related to the e-commerce business of the Group; (iii) the loss on fair value changes of financial assets at fair value through profit and loss (primarily comprising investments in private company equity and other financial investments) as compared to a gain in the prior year; and (iv) the increase in selling and marketing expenses and the administrative and operating expenses as a result of business growth.