Wing Tai Properties Limited provided preliminary group earnings guidance for the year ended 31 December 2022. For the year, the group announces the independent revaluation indicate that the total adverse change in the fair value of the investment properties may be more than double the amount of HKD 527.4 million previously reported for the year ended 31 December 2021. The Group's share of results of joint ventures may be a loss of about HKD 50.0 million due to adverse change in the fair value of the investment properties of the joint ventures for the year ended 31 December 2022, compared to a profit of HKD 242.9 million for the year ended 31 December 2021.

The group may report a loss for the year ended 31 December 2022, compared to a profit attributable to the shareholders of the Company HKD 854.4 million for the year ended 31 December 2021. The 2021 profit of HKD 854.4 million included an one-off valuation gain of HKD 472.2 million on units distributed in specie by a joint venture to the Group in 2021. Exclusive of this one-off gain, the Group's profit attributable to the shareholders of the Company amounted to HKD 382.2 million for the year ended 31 December 2021.