Lai Sun Development Company Limited provided earnings guidance for the year ended 31 July 2023. For the year, the company expected the consolidated loss attributable to owners of the Company expected to be within the range of HKD 2,900 million to HKD 3,050 million as compared to a net loss of approximately HKD 1,967 million for the year ended 31 July 2022. The increased loss, partially offset by lower other operating expenses and tax charge, was primarily due to decrease in property sales in Lai Fung Holdings Limited (a 55.08%-owned subsidiary of the Company) predominantly; write-down of certain properties under development and completed properties for sale; increased finance costs; and decrease in fair values of investment properties owned by the Group.