G.H.Y Culture & Media Holding Co., Limited provided consolidated for the half year ended 30 June 2022. For the period, the company is expecting to report a net loss for six months of 2022. The net loss is primarily attributable to, inter alia, the following factors: (a) foreign exchange loss arising from the appreciation of Singapore Dollar against Chinese Renminbi in six months of 2022 as the Group has significant operations in China; and (b) contract signings with some customers were delayed in six months of 2022 due to the tightened COVID-19 measures in China that begun in March 2022.

While key terms may have been agreed in principle with customers, contract signing and production with some customers were delayed due to the heightened COVID-19 measures in China which brought difficulties in finalising contracts, thereby resulting in a decrease in revenue contribution to the Group in six months of 2022.