Wang On Properties Limited provided unaudited consolidated earnings guidance for the six months ended 30 September 2022. For the period, the Group expects to record a decrease in profit attributable to the owners of the parent of not less than 50% that as compared to the profit attributable to the owners of the parent recorded in the consolidated financial statements of the Group for the six-month period ended 30 September 2021 of approximately HKD 148.6 million. This was primarily attributable to decrease in delivery of completed residential projects from joint ventures, impairment on property held for sale and absence of fair value gain in investment properties during the six months ended 30 September 2022, as partially offset by an increase in gross profit resulting from delivery of property project wholly- owned by the Group during the same period.

The Company regularly reviews its financial position and maintains a healthy cash balance to support the business growth.