Rich Goldman Holdings Limited Provides Earnings Guidance for the Financial Year Ended 30 June 2022. For the year the board of directors of the Company wishes to inform the shareholders of the Company and potential investors that based on the preliminary assessment of the unaudited consolidated management accounts of the Group for the financial year ended 30 June 2023 and the information currently available to the management of the Group, the Group is expected to record a loss for the FY2023 of approximately HKD 7 million as compared to that for the financial year ended 30 June 2022 amounted to approximately HKD 4 million, and total comprehensive loss attributable to owners of the Company of approximately
HKD 39 million for the FY2023. Despite the Group's revenue was increased by approximately HKD 38 million to approximately HKD 98 million for the FY2023, the loss for the FY2023 was increased by approximately HKD 3 million as compared to that for the FY2022. This was primarily attributable to the absence of the gain on bargain purchase on an acquisition of approximately HKD 29 million recorded for the FY2022; the increase in the Group's
administrative expenses by approximately HKD 12 million as compared to that for the FY2022; and the increase in the Group's impairment losses on loans receivable and interest receivables by approximately HKD 9 million as compared to that for the FY2022. In addition, the total comprehensive loss was mainly attributable to the net loss on foreign exchange differences related to Renminbi against Hong Kong dollars on translating the Group's operation of approximately HKD 39 million during the FY2023. The aforesaid net loss on foreign exchange differences is a non-cash accounting
treatment in accordance with Hong Kong Financial Reporting Standards.