Boldtek Holdings Limited announced that, following a preliminary review of the unaudited consolidated financial results of the Group for financial year ended 30 June 2022, the Group is expected to report a net loss for the financial year. The loss is mainly attributable to the lower revenue recognised by the Group due to slowdown in business volume, and lower government grants compared to the last financial year. There is also an increase in exchange losses resulting from translation of foreign operations, impairment of completed properties for sale, higher staff costs, as well as higher fees incurred for the Company's shares and placement exercise.