Universe Entertainment and Culture Group Company Limited provided preliminary unaudited group earnings guidance for the year ended 30 June 2023. For the year, the group expects to record a loss ranging from approximately HKD 102.0 million to approximately HKD 112.0 million as compared to a loss of approximately HKD 78.9 million for the year ended 30 June 2022. The increase in loss of the Group for the Year as compared to the Last Year was mainly due to the increase in impairment loss of approximately HKD 23.6 million for the film rights was made by the Group during the Year due to the decrease in income/expected income from the film rights.