Kowloon Development Company Limited provided unaudited consolidated earnings guidance for the year December 31, 2023. For the period, the company expected to record a considerable decrease in underlying profit attributable to shareholders of the Company in the range of 40% to 50% for the year ended 31 December 2023 as compared to that of the corresponding period in 2022, which was mainly due to the decrease in sales recognition from the property development projects of the Group in Hong Kong. In addition, the Group is expected to record a significant decrease in profit attributable to shareholders of the Company in the range of 65% to 75% for the year ended 31 December 2023 as compared to that of the corresponding period in 2022, which was mainly due to (1) the decrease in sales recognition from the property development projects of the Group in Hong Kong as mentioned above and (2) the fair value losses on investment properties in Hong Kong.