Wai Kee Holdings Limited provided unaudited consolidated earnings guidance for the year ended 31 December, 2023. For the year, the company expects to record an unaudited consolidated loss attributable to owners of the Company in the range of approximately from HKD 1,550 million to HKD 1,700 million before taking into account the effect (if any) of impairment assessment on the entire carrying amount of the Group's interest in Road King Infrastructure Limited as at 31st December, 2023. The audited consolidated loss attributable to owners of the Company for the year ended 31st December, 2022 was HKD 7 million.

The significant increase in the Group's unaudited consolidated loss for YE2023 is mostly attributable to the significant increase in share of unaudited consolidated loss attributable to owners of Road King for YE2023. Road King announced in its profit warning announcement dated 11th March, 2024 that it expects to record unaudited consolidated loss attributable to owners of Road King for YE2023 in the range of approximately HKD 3,900 million to HKD 4,200 million, as compared with the audited consolidated loss attributable to owners of Road King of HKD 495 million for YE2022. Road King explained that its unaudited consolidated loss for YE2023 is primarily attributable to: the overall sluggish property market and severe operating environment in the industry, which resulted in the reduction in delivery area and substantial deterioration in profit margin of the property projects in Mainland China and Hong Kong and the increase in impairment provision for properties and related assets; and the exchange loss of approximately HKD 660 million that arose from the continued depreciation of Renminbi during YE2023.