C C Land Holdings Limited provided earnings guidance for the six months ended 30 June 2023. For the period, the Group is expecting to record an estimated loss in the region of HKD 1.4 billion attributable to its shareholders for the six months ended 30 June 2023 as compared to a profit attributable to its shareholders of approximately HKD 241 million for the corresponding period last year. The estimated loss was primarily attributable to the expected fair value losses of approximately HKD 1.4 billion arising from the revaluation of the Group's investment properties in the UK as at 30 June 2023 as a result of the continuous increase in interest rates during the period under review.

Such fair value losses are unrealized and non-cash in nature.