AGTech Holdings Limited announced earnings guidance for the six months ended June 30, 2022. For the six months, the company expected that the loss will increase to not less than HKD 84 million, as compared to a loss of approximately HKD 43.7 million for the six months ended June 30, 2021 The expected increase in the loss for 2022 FIRST HALF as mentioned above was primarily attributable to the combination of factors as follows: there was an increase in revenue of the Group by over 70% for 2022 FIRST HALF mainly as a result of the consolidation of the financial statements of Macau Pass Holding Limited and its subsidiaries into the financial statements of the Group upon completion of acquisition of the entire equity interest in Macau Pass Holding Limited and 1% of equity interest in Macau Pass S.A. by the Group on March 24, 2022, which was partially offset by an increase in other operating expenses of the Group by over 120% for 2022 FIRST HALF as compared to such expenses for 2021 FIRST HALF, after inclusion of other operating expenses of the Macau Pass Group, such as service fees paid to other payment service providers, and marketing expenses in relation to promotion campaigns relating to the 2022 Electronic Consumption Benefits Plan in the Macao Special Administrative Region of the People's Republic of China. In addition, Autoridade Monetária de Macau (the Monetary Authority of Macao) has promoted financial institutions to exempt the transaction acquiring fee charged to small and medium enterprises for the Simple Pay system from October 1, 2021 to September 30, 2022 in order to support these enterprises during the pandemic; there was a decrease in employee benefits expenses of the Group by over 20% for 2022 FIRST HALF despite the inclusion of the Macau Pass Group's employee benefits expenses as the Group implemented restructuring last year for costs control to maintain its competitive position; it is expected that the depreciation and amortization expenses of the Group will increase to not less than HKD 23 million for 2022 FIRST HALF, as compared to the depreciation and amortization expenses of approximately HKD 10 million for 2021 FIRST HALF, mainly due to the consolidation of the depreciation and amortization expenses of the Macau Pass Group into the financial statements of the Group and amortization expenses on the fair value of identifiable intangible assets, i.e. brand name, customer and business relationship arising from the acquisition of the Macau Pass Group; it is expected that there will be a fair value loss on the convertible term loan facilities provided by the Group to its 45%-owned joint venture company in India, Paytm First Games Private Limited, of not less than HKD 26 million, mainly due to an increase in market interest rates during 2022 FIRST HALF as compared to a fair value loss of approximately HKD 537,000 for 2021 FIRST HALF; and the Group expects to record a net other loss of not less than HKD 6 million for 2022 FIRST HALF due to the fluctuation of foreign exchange rates, as compared to a net other gain of approximately HKD 7.5 million for 2021 FIRST HALF.