New World Department Store China Limited provided consolidated earnings guidance for the year ended 30 June 2023. For the year, the Group expects to record a loss attributable to shareholders of the Company of not more than approximately HKD 350 million for the year ended 30 June 2023, as compared to a loss attributable to shareholders of the Company of approximately HKD 483 million for the year ended 30 June 2022. The estimated reduction in loss for the year ended 30 June 2023 is primarily attributable to a decrease in impairment loss on assets, including goodwill and loss in fair value of investment properties recognised for the year, which was partially off-set by (i) an increase in net exchange loss mainly arising from the changes in the exchange rate of Hong Kong dollar against Renminbi and (ii) a decrease in net gain on derecognition of lease liabilities and right-of-use assets due to the closure of certain department stores.