The board of directors of Hong Kong Education (Int'l) Investments Limited provided preliminary review of the unaudited consolidated management accounts of the Group for the 11 months ended 31 May 2019, the Group is expected to record net loss of not less than HKD 70 million for the year ended 30 June 2019 ("fiscal year 2018/19") as compared to the net loss of approximately HKD 8.2 million for the year ended 30 June 2018. The Board considers that such substantial increase in net loss was mainly attributable to (i) the loss arising on change in fair value of financial assets at fair value through profit or loss of approximately HKD 21.9 million recorded in fiscal year 2019 (fiscal year 2017/18: gain of approximately HKD 31.5 million) and (ii) lack of one-off gain on disposal of subsidiaries and associates of approximately HKD 69.6 million recorded in fiscal year 2017/18. The information contained in this announcement is only based on the preliminary assessment by the Company's management on the information currently available, which has not been confirmed nor reviewed by the Company's auditors and the audit committee of the Board. In particular, the Company is still in the process of evaluating the possible change in fair value of the Group's investment in Convoy Global Holdings Limited, a company listed on the Main Board of the Stock Exchange (Stock Code: 1019) and certain financial assets. Accordingly, the information contained herein and the financial results of the Group for fiscal year 2018/19 will be subject to further adjustment after further review by the Company's management.