Grand Field Group Holdings Limited provided unaudited consolidated earnings guidance for the year ending December 31, 2023. The group is expected to record a substantial reduction in loss attributable to owners of the company and the loss attributable to owners of the Company is currently expected to be ranged from approximately HKD 30.0 million to HKD 70.0 million as compared to the loss attributable to owners of the Company of approximately HKD 392.6 million for the year ended 31 December 2022, representing a significant reduction of approximately 82.2% to 92.4%. Such reduction in loss of the Group was mainly attributable to the following reasons: the increase in revenue and gross profit of the Group from approximately HKD 139.3 million and HKD 19.0 million respectively for the year ended 31 December 2022 to approximately HKD 255.0 million to HKD 275.0 million and HKD 50.0 million to HKD 70.0 million respectively for the year ended 31 December 2023; the reduction in administrative expenses of the Group from approximately HKD 61.6 million for the year ended 31 December 2022 to approximately HKD 45.0 million to HKD 55.0 million for the year ended 31 December 2023; the recognition of one-off fair value gain on investment properties of the Group in a range of approximately HKD 20.0 million to HKD 60.0 million for the year ended 31 December 2023 as opposed to the one-off fair value loss on investment properties of the Group of approximately HKD 380.5 million for the year ended 31 December 2022; the absence of one-off impairment loss on properties for sale under development and goodwill of the Group for the year ended 31 December 2023 as compared to the one-off impairment loss of properties for sale under development and goodwill of the Group in the aggregate amount of approximately HKD 104.3 million and approximately HKD 36.8 million respectively recognised for the year ended 31 December 2022; a significant reduction in provision in relation to litigation of the Group from approximately HKD 49.2 million for the year ended 31 December 2022 to approximately HKD 0.5 million to HKD 1.5 million for the year ended 31 December 2023; and the recognition of fair value loss on convertible bonds through profit or loss of approximately HKD 6.7 million for the year ended 31 December 2023 as compared to a fair value gain on convertible bonds through profit or loss of approximately HKD 3.8 million for the year ended 31 December 2022, which partially set-off against the above- mentioned effects.