Shinvest Holding Ltd. provided earnings guidance for the first half of the financial year ending 31 August 2022. The group is expected to report a significant loss (Profit before Tax) for the first half of the financial year 2022 compared to a profit for the full year result for the financial year ended 31 August 2021 mainly due to the following reasons: With the adoption of SFRS(I) 9 on 1 September 2018, all fair value changes for the investments in quoted equity shares will be recognised in profit or loss, along with any related deferred tax expense. The company is currently holding 3.499% equity shares in Espressif Systems (Shanghai) Co.

Ltd. ("Espressif Shanghai") and its closing market price on 28 February 2022 (last trading day in February 2022) was RMB 168.58 per share which is lower than its previous closing market price of RMB 212.45 per share on 31 August 2021.