ENM Holdings Limited provided earnings guidance for the nine months ending September 30, 2022. For the period, the company expects to record a loss attributable to Shareholders of approximately HKD 147 million for the nine months ended 30 September 2022 mainly due to a significant decline in the fair value of the Group's investment portfolio as a result of the continual downturn in the financial markets. Globally, equities and fixed income assets have lost approximately 20% to 30% in market value for the nine months ended 30 September 2022. At the same time, the trading results of the Group's fashion retail business and club operations have not recovered from the adverse impact of COVID-19 with prolonged social distancing and travel restrictions implemented throughout the period. However, based on the September 2022 Management Accounts, the Group is still in a sound financial position with the Group's current ratio (current assets over current liabilities) as at 30 September 2022 standing at 16.3 times. Subject to potential further global financial market fluctuations and based on certain preliminary
updates on the Group's investment portfolio as at 24 October 2022; if the foregoing circumstances relating to the Group's financial performance continue into the fourth quarter of 2022, the Group currently foresees that there would be a significant increase in the loss attributable to Shareholders for the year ending 31 December 2022 as compared to the loss attributable to Shareholders of HKD 21.3 million for the year ended 31 December 2021.