NOVA Group Holdings Limited provided consolidated earnings guidance for the year ended 30 June 2022. For the year, company expected to record a revenue of approximately HKD 112.16 million for the year ended 30 June 2022, as compared to that of approximately HKD 228.07 million for the year ended 30 June 2021. The Group is also expected to record a net loss of not more than approximately HKD 146 million for the year ended 30 June 2022, as compared to a net loss of approximately HKD 5.45 million for the year ended 30 June 2021.

The deterioration was mainly attributable to the increase in impairment loss on goodwill by approximately HKD 75.47 million and the increase in impairment losses under expected credit loss model, net of reversal by approximately HKD 73.77 million due to the decrease in actual revenue and estimated revenue in the coming years, and increased credit risk of receivables under the outbreak of the coronavirus disease 2019.