Shen Yao Holdings Limited provided group earnings guidance for the full financial year ended June 30, 2021. For the year, the group expects to report a net loss. Losses are attributable mainly due to the recognition of a fair value loss in relation to SGD 7,000,000 in principal amount that has been drawn down in respect of the SGD 10,000,000 in aggregate principal amount of 10 unlisted and redeemable convertible bonds due 2022 (the bonds) comprising 10 tranches with a principal amount of SGD 1,000,000 for each tranche of such bonds to be consolidated to form a single series due 24 months after the date of issuance of the first tranche, based on the subscription agreement entered into between the company and Tomson Pte Ltd. on December 3, 2020; the recognition of fair value expenses in relation to the 2,500,000,000 share options, which carries a right to subscribe for new shares in the capital of the company at an exercise price of SGD 0.0028 per share, granted by the company to directors and selected key employees of the group; and the depreciation of Singapore dollar against Australian dollar.