Innovax Holdings Limited provided unaudited earnings guidance for the six months ended 31 August 2021. The board of Directors of the company wishes to inform the shareholders of the company and potential investors that, based on the preliminary review of the latest unaudited management accounts of the Group and other currently available information of the Group, the Group is expected to that the total revenue for the six months ended 31 August 2021 will decrease to approximately HKD 18.1 million as compared with revenue of the corresponding period in 2020 of approximately HKD 20.8 million. The expected decrease in revenue was mainly attributable to the decrease in revenue from corporate finance advisory services and placing and underwriting services as a result of the COVID-19 pandemic which has delayed the progress of the Group's IPO sponsorship projects. However, the Group is expected to record a loss of approximately HKD 2.0 million for the six months ended 31 August 2021, representing a substantial decrease in loss as compared with the loss of approximately HKD 6.6 million for the six months ended 31 August 2020. The substantial decrease in loss was mainly due to the drop in staff costs by appropriately 50% as a result of the decrease in salary expenses in general and the decrease in discretionary bonus.