CA Cultural Technology Group Limited revised earnings guidance for the fiscal year 2022. For the period, the company expects to record a loss of an amount not less than HKD 840 million. The increase in the amount of expected loss compared to the one previously announced in the Announcement dated 30 June 2022 is primarily attributable to the following items on top of
such loss in the amount of approximately HKD 384 million in the Announcement dated 30 June 2022:the increase in amortization of intangible assets in the amount of approximately HKD 55.8 million to be recorded in the 2022 Financial Year, the increase in share of losses in a joint venture and associates in the amount of approximately HKD 39.0 million to be recorded in the 2022 Financial Year; the impairment losses with respect to investments in a joint venture and associates in the amount of approximately HKD 93.1 million to be recorded in the 2022 Financial Year; the impairment losses made on property, plant and equipment in the amount of approximately HKD 70.2 million to be recorded in the 2022 Financial Year; the impairment losses made on right-of-use assets in the amount of approximately HKD 20.7 million to be recorded in the 2022 Financial Year; the impairment losses made on intangible assets in the amount of approximately HKD 93.7 million to be recorded in the 2022 Financial Year; and the increase in the impairment losses under expected credit loss model in the amount of approximately HKD82.3 million to be recorded in the 2022 Financial Year.