Top Education Group Ltd. provided consolidated earnings guidance for the year ended June 30, 2021. The board of directors of the company inform the shareholders of the company and potential investors that, based on a preliminary review of the latest unaudited consolidated management accounts for the year ended 30 June 2021, the Group expected to record a profit before tax of approximately AUD 0.3 million for the Reporting Period as compared with a profit before tax of AUD 6.3 million for the corresponding period in 2020. The Board considers that such decline is primarily attributable to the affects by COVID-19 pandemic and long-lasting closure of Australian international border which result in a decrease in revenue due to the decrease in course fee income generated; an increase in advertising and marketing expenses in response to a more competitive market during the COVID-19 pandemic; and an increase in expenses on online delivery of courses.