The board of directors of Hon Kwok Land Investment Company, Limited announced that based on a preliminary review of the unaudited consolidated management accounts of the group, the group is expected to record a decrease in the net profit attributable to owners of the company for the six months ended 30 September 2020 by approximately 60% as compared to the net profit attributable to owners of the company of approximately HKD 224.4 million for the same period in 2019. The board considers such decrease in profit was primarily due to: the decrease in fair value gain arising from revaluations of the group's investment properties for the six months ended 30 September 2020 as compared to the fair value gain of HKD 113 million for the same period in 2019. the decrease in the share of profit of an associate which recorded a drop in revenue and profit contribution for the six months ended 30 September 2020, as most of the property units of its development project were delivered to customers and recognized as revenue in last corresponding period, resulting in a decrease in the Group's share of profit.