Luk Hing Entertainment Group Holdings Limited provides earnings guidance for the year ended 31 December 2021. For the year, the company expects to record a net loss of approximately HKD 110.0 million as compared to the net loss of HKD 38.3 million recorded for the corresponding period in 2020. Such increase in net loss was mainly attributable to (i) impairment and write-off on assets of the clubbing business in Macau namely Club Macau Cubic of approximately HKD 50.0 million subsequent to the event that Club Cubic Macau was unable to continue operation from 8 October 2021 due to the disputes between COD Resorts Limited and the Group in relation to Club Cubic Macau's operation at the Boulevard, City of Dreams, Macau; and (ii) impairment on goodwill and asset of the Zhuhai clubbing business namely Cubic SPACE+ of approximately HKD 16.0 million due to the severe impact on the operation of the clubbing business caused by the disinfection and quarantine measures and the negative industry sentiments under the novel coronavirus pandemic.

Please also refer to the announcement of the Company dated 8 October 2021 for details on the cessation of operation of Club Cubic Macau.