Smart City Development Holdings Limited provided earnings guidance for the three months ended June 30, 2022. For the period, the company is expected to record a loss for the period of not more than HKD 4 million for the three months ended 30 June 2022, as compared with a profit of approximately HKD 2.4 million for the corresponding period in 2021. Based on the information currently available to the Board, the loss was mainly due to (i) the decrease in operating profit in the securities investment segment of approximately HKD 5.0 million, as compared to the three months ended 30 June 2021; and (ii) the increase in operating loss in the construction segment of approximately HKD 1.0 million, as compared to the three months ended 30 June 2021.