Asia Vets Holdings Ltd. provided consolidated earnings guidance for the financial year ended December 31, 2022. The board of directors of Asia Vets Holdings Ltd. announced that, based on a preliminary review of the Group's unaudited consolidated financial results for the financial year ended 31 December 2022, the Group is expected to report a net loss for fiscal year 2022. The net loss for fiscal year 2022 is mainly attributable to: a decline in revenue, which was largely due to (a) the closure of the Group's Traditional Chinese Medicine veterinary clinic in March 2021, (b) the departure of the former Medical Director and General Manager of AVH Animal Ark Pte.

Ltd., Dr. Lin Chung Chieh Eugene in September 2021, (c) the lesser revenue contribution from existing veterinarians as compared to the previous financial year, exacerbated by one of them who went on maternity leave, and (d) the increased market competition; and an increase in professional fees, which was mainly due to the professional fees incurred for the proposed acquisition of the entire issued and paid-up share capital in AlDigi Holdings Pte. Ltd. from RHT AlDigi Financial Holdings Pte. Ltd., the details of the Proposed Acquisition as set out in the Company's announcements dated 30 December 2021, 28 April 2022, 5 August 2022, 30 November 2022 and 14 December 2022.