Yunfeng Financial Group Limited provided consolidated earnings guidance for the six months ended June 30, 2023. For the six months, the group is expected to record a net profit attributable to the equity shareholders of the Company for 2023 Interim Period of approximately HKD 130 million. After restatement based on the New Standard, a net loss attributable to equity shareholders of approximately HKD 482 million is expected to have been recorded for the six months ended 30 June 2022 (the "2022 Interim Period").

Based on the Old Standard, the net loss attributable to equity shareholders recorded for 2022 Interim Period was approximately HKD 199 million. The expected turnaround for 2023 Interim Period is mainly due to the fair value loss of the Group's investments having significantly decreased as compared to the same period last year. The difference between the loss for 2022 Interim Period under the New Standard and the Old Standard is mainly due to the fact that under the New Standard, the changes in the fair value of certain bonds and equity investments held by the Company's principal subsidiary, YF Life Insurance International Limited, are required to be recognized in the income statement, whereas under the Old Standard, such fair value changes were recognized in the fair value reserve.