Pacific Legend Group Limited provided group earnings guidance for the year ended 31 December 2022. The Board of Directors of the company informed the shareholders of the Company and potential investors that, based on the currently available information which includes, but without limitation to, the consolidated management accounts of the Company and its subsidiaries, the Group is expected that its loss attributable to owners of the Company would significantly increase from HKD 28,166,000 for the year ended 31 December 2021 to no less than HKD 46,369,000 for the year ended 31 December 2022. The deterioration of the Group's performance for the year ended 31 December 2022 compared to the corresponding period in 2021 was mainly attributable to (i) an impairment losses of approximately HKD 21,268,000 made for the year ended 31 December 2022 to the Group's certain intangible assets, right- of-use assets and property, plant and equipment in accordance with Hong Kong Accounting Standard 36 "Impairment of Assets", representing an increase of approximately HKD 4,153,000 compared to HKD 17,115,000 for the year ended 31 December 2021; (ii) a further provision of expected credit loss of HKD 7,260,000 in respect of certain monetary assets in the fourth quarter of 2022; (iii) a further provision of HKD 3,607,000 in inventory in the fourth quarter of 2022; and (iv) a significant agency commission of approximately HKD 2,399,000 recognized in the fourth quarter of 2022 in respect of the referral of corporate sales customers in the United Arab Emirates.