Smart City Development Holdings Limited provided consolidated earnings guidance for the year March 31, 2023. For the period, Group expected to record a loss for the year of not more than HKD 11.0 million for the year ended 31 March 2023, as compared with a profit for the year of approximately HKD 15.0 million for the corresponding year in 2022. Based on the information currently available to the Board, the loss was mainly due to the operating loss in the construction segment of approximately HKD 1.1 million recorded for the year ended 31 March 2023 (year ended 31 March 2022: profit of approximately HKD 16.4 million) mainly due to the decrease in profit margin from the construction segment; the realised loss recorded in the securities investment segment of approximately HKD 0.4 million (year ended 31 March 2022: gain of approximately HKD 3.8 million); the operating loss in the property investment segment of approximately HKD 2.9 million (year ended 31 March 2022: loss of approximately HKD 2.0 million) as a result of the increase in operating costs; and the gain on disposal of subsidiaries of approximately HKD 3.2 million recorded in the last reporting period.