The board of directors Hong Kong Education (Int'l) Investments Limited announced that, based on its preliminary review of the unaudited consolidated management accounts of the Group for the year ended 30 June 2022, the Group is expected to record net loss of not less than HKD 33.0 million for FY2021/22 as compared to the net profit of approximately HKD 3.8 million for the year ended 30 June 2021. The aforesaid amount of loss for FY2021/22 is mainly attributable to: (i) the one-off equity settled share-based transactions of approximately HKD 19.1 million incurred during the year; (ii) a loss on change in fair value of financial assets at fair value through profit or loss of approximately HKD 6.2 million in FY2021/22 (FY2020/21: a gain of approximately HKD 20.3 million) primarily as a result of the impairment loss on a number of suspended listed securities and a private equity investment with reference to the bearish sentiment in Hong Kong and global stock market; and iii) the impairment loss on trade and loan receivables of approximately HKD 6.2 million (FY2020/21: loss of approximately HKD 12.5 million).