Applied Development Holdings Limited provided earning guidance for the six months ended 31 December 2022. Based on the information currently available to the board of directors of the Company informed the shareholders of the Company (the "Shareholders") and potential investors that the Group may record a loss of approximately HKD 26 million for the six months ended 31 December 2022, representing a reduction in loss as compared to the loss of approximately HKD 40 million for the six months ended 31 December 2021. The Board considered that the change was mainly attributable to, among others, net impact of the following factors: an increase 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 six months ended 31 December 2022 but no bulk delivery was arranged for the six months ended 31 December 2021.

Thus the overall gross profit of the Group increased from approximately HK$4 million for the six months ended 31 December 2021 to approximately HK$16 million for the six months ended 31 December 2022; an increase in reversal of impairment loss on loans and interest receivables from approximately HKD 2 million for the six months ended 31 December 2021 to approximately HKD 8 million for the six months ended 31 December 2022 due to the repayment received from the debtor; a decrease in fair value loss of financial assets at fair value through profit or loss from approximately HKD 13 million for the six months ended 31 December 2021 to approximately HKD 9 million for the six months ended 31 December 2022; and an increase in the fair value loss of the Group 's investment properties from approximately HKD 16 million for the six months ended 31 December 2021 to approximately HKD 27 million for the six months ended 31 December 2022.