Cheuk Nang (Holdings) Limited provided earnings guidance for the fiscal year 2022. The group expected to record loss attributable to owners of the Company (before taking into account of changes in fair value of investment properties) of approximately HKD 60 million for the 2022 Financial Year, as compared to profit attributable to owners of the Company (before taking into account of changes in fair value of investment properties) for the 2021 Financial Year. The Board wishes to update the shareholders of the Company and potential investors that, based on further assessment on the information currently available, including preliminary valuation assessment of fair values of the Group's investment properties, and the further review of the unaudited consolidated management accounts of the Group for the 2022 Financial Year by the Board, the Group expects to record (i) a significant decrease in gross profit of approximately HKD 720 million for the 2022 Financial Year as compared to the gross profit of approximately HKD 730 million for the 2021 Financial Year, which was mainly attributable to a significant decrease in revenue for the 2022 Financial Year of approximately HKD 940 million as compared to that for the 2021 Financial Year; (ii) positive change in fair value of investment properties of approximately HKD 95 million for the 2022 Financial Year as compared to negative change of approximately HKD 99 million for the 2021 Financial Year; and (iii) loss attributable to owners of the Company of approximately HKD 150 million for the 2022 Financial Year as compared to profit attributable to owners of the Company of approximately HKD 150 million for the 2021 Financial Year, which is mainly resulted from the combined effect of (a) drop in gross profit; (b) decrease in other income; (c) turnaround from negative change in fair value of investment properties for the 2021 Financial Year to positive change in fair value of investment properties for the 2022 Financial Year; and (d) decrease in administrative expenses and income tax expenses.