Li Bao Ge Group Limited provided earnings guidance for the year ended 31 December 2022. For the year, the company is expected to record a decrease in loss after tax by not less than 50% as compared to loss after tax of approximately HKD 100 million for the year ended 31 December 2021. To the best knowledge of the Directors, the reduction in loss as compared to FY2021 was primarily attributable to reduction of rental due to early termination of leases and absent of impairment losses on both amount due from a non-controlling shareholder (2021: approximately HKD 9.9 million) and intangible assets (2021: approximately HKD 28.7 million) which were fully impaired in the previous year.