Summit Ascent Holdings Limited provided unaudited consolidated earnings guidance for the year ended 31 December 2022. For the period, the group is expected to record a turnaround of its financial results from loss of approximately HKD 273.8 million for the year 2021 to profit of approximately HKD 30.9 million for year 2022. The expected improvement in results is mainly attributable to (1) an increase in revenue of approximately HKD 106.8 million (or increased by 40%) for the year 2022 as compared to the year 2021; and (2) there was an impairment loss of approximately HKD 136.9 million recognised on property, operating right and equipment for the year 2021 whereas no such impairment loss was recorded for the year 2022.