Public Financial Holdings Limited provided earnings guidance for the eleven months ended 30 November 2023. For the eleven months ended 30 November 2023 and other information made known to the Board, the Group projects a material decrease in profit attributable to owners of the Company for the year ending 31 December 2023 as compared with a profit of HKD 329 million for the year ended 31 December 2022. The likely decrease in projected profit attributable to owners of the Company is mainly due to: increase in expected credit loss provision by approximately HKD 195 million, mainly from one large commercial borrower and some hire purchase loans amidst a noticeable decline in the commercial property prices and the value of public vehicle licences; decrease in net interest income by approximately HKD 140 million attributed to the hike in funding cost; and decrease in fair value of investment properties by approximately HKD 30 million in year 2023.