Grand Field Group Holdings Limited provided earnings guidance for the six months ended 30 June 2022. For the period, the Group is expected to record a loss attributable to owners of the Company of approximately HKD 317 million for the six months ended 30 June 2022 as compared to a profit attributable to owners of the Company of approximately HKD 7.1 million for the six months ended 30 June 2021. Such change was mainly due to (i)
decrease in revenue by approximately 31% caused by decline in trading volume of properties in Shenzhen, the People 's Republic of China ("PRC"); (ii) the decrease in gross profit margin caused by the sale of some properties with lower gross profit margin during the period; (iii) recognition of significant fair value loss on investment properties and impairment loss on properties for sale under development, and property, plant and equipment in the PRC of approximately HKD 478 million; and (iv) provision made for losses on litigation of approximately HKD 49 million in connection with certain subsidiaries of the Company.