Shun Ho Property Investments Limited (SHP), Magnificent Hotel Investments Limited (MHI) and Shun Ho Holdings Limited (SHH) provide consolidated earnings guidance for the year ended December 31, 2021. The boards of directors of the companies inform the shareholders of the companies and potential investors that, based on the preliminary assessment of the unaudited consolidated management accounts of the Groups for the financial year ended 31 December 2021 and information currently available, it is expected that there would be an increase in revenue for fiscal year 2021 in the range of 40% - 50%, 30% - 40% and 30% - 40% for MHI, SHP and SHH respectively, as compared to that for the financial year ended 31 December 2020; and the respective profit attributable to owners (after depreciation) of MHI, SHP and SHH for fiscal year 2021 would be approximately HKD 66 million, HKD 68 million and HKD 30 million, whereas the respective loss attributable to owners (after depreciation) of MHI, SHP and SHH were approximately HKD 202 million, HKD 172 million and HKD 96 million for fiscal year 2020. The expected profit attributable to owners (after depreciation) for fiscal year 2021 is primarily attributable to increase in hotel revenue.

During fiscal year 2021, the Groups' core hotel business which is undertaken through MHI and SHP has risen since 6 out of 7 local hotels have taken up the role of designated quarantine hotels under the government's regulations, securing the Groups with higher room rates as compared to those in fiscal year 2020. Moreover, the management has also taken prompt measures to streamline operating structure and to control operating costs.