Central Holding Group Co. Ltd. provided consolidated earnings guidance for the year ended 31 December 2022. For the year, the group expected to record a net loss of not more than HKD 35 million for the Reporting Period as compared to a net profit of approximately HKD 60.3 million for the year ended 31 December 2021.

The turnaround from net profit to net loss was primarily attributable to (i) an increase in construction costs under superstructure and construction projects in Hong Kong due to the outbreak of the coronavirus disease; (ii) an increase in operation costs under the new photovoltaic project in Fengtai County and (iii) an increase in provision for impairment losses on trade and other receivables during the Reporting Period.