Auto Italia Holdings Limited provided earnings guidance for the year ended 31 December 2022. For the year, the company is expected to record a consolidated loss attributable to owners of the Company of approximately HKD 60 million to HKD 70 million as compared to the consolidated loss attributable to owners of the Company of approximately HKD 7.1 million for the year ended 31 December 2021. Such loss is primarily attributable to unrealized fair value losses on investment property and the investment of an associate measured at fair value through profit or loss.

Such fair value losses are non-cash in nature.