Stelux Holdings International Limited provided earnings guidance for the year ending March 31, 2022. For the period, the company expects consolidated net loss attributable to equity holders of the Company for the year ended 31 March 2022 of no less than HKD 90 million and the loss is expected to be narrowed from the net loss for the year ended 31 March 2021 of HKD 161.3 million after excluding the following factors: A gain on disposal of a subsidiary of HKD 97.8 million (relating to a property in Hong Kong); The accounting impact from HKFRS 16 Leases (non-cash) of HKD 76.3 million (income); An impairment loss (non-cash) of HKD 15.7 million relating to right-of-use assets mainly arising from retail stores with declined store profitability; An impairment loss (non-cash) of HKD 54.1 million due to revaluation of investment properties
and leasehold land and buildings; A stock provision expense (non-cash) of HKD 19.3 million mainly relating to slow-moving watch movements; and An impairment loss of intangible assets of HKD 5.6 million due to reducing recoverable amount.