Kerry Properties Ltd. provided earnings guidance for the six months ended June 30, 2014 and for the year ending December 31, 2014. The board of directors of the company announced the shareholders of the company and potential investors that, based on the preliminary review on the draft unaudited consolidated management accounts of the Group for the six months ended June 30, 2014, it is expected that the profit attributable to the Shareholders for the six months ended June 30, 2014 would decrease by approximately 50% to 60% as compared to that of the corresponding period in 2013. This expected decrease is primarily attributable to, among other things, the substantial decrease in the increase in fair value of investment properties of the Group.

In addition, based on information currently available and the preliminary assessment by the management of the Company, it is expected that the group will record a significant decrease in the profit attributable to the Shareholders for the year ending December 31, 2014 as compared to that for the year ended 31 December 2013 as a result of the substantial decrease in the increase in fair value of investment properties of the Group for the six months ended 30 June 2014; and the absence of the one-off gain of HKD 4,325 million arising from the spin-off of Kerry Logistics Network Limited recorded in the year ended December 31, 2013.