Vanke Overseas Investment Holding Company Limited provided preliminary unaudited consolidated group earnings guidance for the six months ended 30 June 2023. For the period, the group expects to record a profit attributable to the Shareholders of approximately HKD 3 million, as compared to the profit attributable to the Shareholders of approximately HKD 83 million recorded in the unaudited consolidated management accounts of the Group for the six months ended 30 June 2022. The Board is of the view that the decrease in the profit attributable to the Shareholders for the Period was mainly caused by the increase in share of losses of associates of approximately HKD 130 million which was mainly due to the decrease in fair value of an investment property owned by an associate of the Group located in California, the United States of America during the Period resulting from various local market factors.

On the other hand, there was a fair value gain of approximately HKD 74 million contributed by the Group's investment property located in Hong Kong, namely Regent Centre, during the Period. Combining the above factors, the Group will record a decrease in profit attributable to the Shareholders for the Period.