China Information Technology Development Limited provides earnings guidance for the year ended 31 December 2021. It is expected that the Group will record a loss attributable to the owners of the Company of not less than HKD 90 million for the year ended 31 December 2021 ("Year 2021") as compared to a loss attributable to the owners of the Company of approximately HKD 9.8 million for the corresponding period in 2020 ("Year 2020"). Based on the information available to the Company immediately preceding the publication of this announcement, the Board believes that the loss is mainly attributable to (i) the fair value loss on the investment properties of approximately HKD 53,206,000 for the Year 2021; (ii) the research and development expenses for smart retail cloud platform and network security of internet of things cloud platform of approximately HKD 15,000,000 for the Year 2021; and (iii) the recognition of forfeited deposit of approximately HKD 14,666,000 in Year 2020.