Pico Far East Holdings Limited provided earning guidance for the year ended October 31, 2021. The board of directors of the Company wishes to inform the shareholders and potential investors that, based on a preliminary review of the latest unaudited financial statements of the Group for the year ended October 31, 2021, the Group expects to record an increase of more than 150% in the unaudited profit attributable to the owners of the Company compared to
the HKD 50,536,000 recorded by the Group for the year ended October 31, 2020. To the Board's best knowledge, the aforementioned increase is mainly attributable to: The Group's strong presence in China, which enabled it to capture opportunities from the ongoing return of exhibitions and events in the area while COVID-19 conditions continued to fluctuate in most other markets. The Group's offering of online brand activation solutions in regions with continuous or periodic travel restrictions and social distancing requirements. Change in remeasurement of contingent consideration for certain acquisitions during the financial years 2017/2018 and 2018/2019.