Auto Italia Holdings Limited provided earnings guidance for the year ending December 31, 2021. For the period, the company expects to record a substantial decrease of consolidated loss attributable to owners of the Company to not more than HKD 10 million, as compared to
the consolidated loss of approximately HKD 89.0 million for the year ended 31 December 2020 (the Statement). The expected significant decrease in loss is primarily
attributable to the decrease in selling and distribution costs and administrative
expenses due to the cost optimization and restructuring plan; non-recurrence of
impairment loss on right-of-use assets and goodwill and fair value gain on
investment properties.