Applied Development Holdings Limited announced earnings guidance for the financial year ended 30 June 2022. For the period, the group may record a loss of approximately HKD 160 million for the financial year ended 30 June 2022, as compared to the loss of approximately HKD 60 million for the financial year ended 30 June 2021. The Board considered that the change was mainly attributable to, among others, the following factors: (i) an increase in fair value loss of financial assets at fair value through profit or loss from approximately HKD 43 million for the financial year ended 30 June 2021 to approximately HKD 128 million for the financial year ended 30 June 2022, mainly derived from the fair value loss from fund investments; and a decrease in revenue and gross profit from the Group 's resort and property development segment, which was because the properties were delivered to customers in bulk for the financial year ended 30 June 2021 but no bulk delivery was arranged for the financial year ended 30 June 2022.

Thus the overall gross profit of the Group decreased from approximately HKD 22 million for the financial year ended 30 June 2021 to approximately HKD 7 million for the financial year ended 30 June 2022.