Edvance International Holdings Limited provided consolidated earnings guidance for the Year ended March 31, 2022. The board of directors of the Edvance International Holdings Limited inform the shareholders and potential investors of the company that, based on the preliminary assessment of the unaudited consolidated management accounts of the Group for the year ended 31 March 2022 (fiscal year 2022) and currently available information, it is expected that the Group will record a decrease in the net profit attributable to owners of the company of approximately 34% for fiscal year 2022 as compared to the year ended 31 March 2021. Reference is made to the announcement of the company dated 23 September 2021 and the interim report published by the company for the six months ended 30 September 2021, of which the company recorded an increase of unaudited Net Profit from HKD 15.0 million for the six months ended 30 September 2020 to HKD 98.9 million for the six months ended 30 September 2021.

Such increase was mainly due to the fair value gain on financial assets at fair value through profit and loss of approximately HKD 100.2 million in relation to the unlisted investment of holding company of HKbitEX (Investment in HKbitEX) based on the post money valuation of the Group's holding of its Series A2 Preference Shares and the valuation report prepared by a professional valuer as at 30 September 2021.