Forward Fashion (International) Holdings Company Limited Provided consolidated earnings guidance for the twelve months ended 31 December 2022. For the period, the company expects to record a consolidated net loss of not less than HKD 37 million for the twelve months ended 31 December 2022 as compared with the net profit of HKD 31.6 million for the twelve months ended 31 December 2021. The Board is of the view that the expected turnaround from profit to loss is mainly due to the adverse impact of the novel coronavirus (COVID-19) pandemic (the Pandemic) in Mainland China, Macau, Hong Kong and Taiwan (Greater China) which has continued to affect the sales of the Group in Greater China in 2022.

The Group has strengthened management and cost control measures to minimize the negative impact of the Pandemic.