The board of directors of Grand Ming Group Holdings Limited announced that based on the preliminary assessment of the unaudited consolidated management accounts of the Group for the year ended March 31, 2025 (the "Year") and information currently available to the Board, the Group is expected to record a net loss of approximately HKD 280 million to approximately HKD 310 million for the Year, as compared to a net profit of approximately HKD 298.5 million for the year ended March 31, 2024 (the "Previous Year"). The Board considers that the aforesaid net loss incurred for the Year was mainly attributable to (i) the recognition of impairment losses net of deferred tax (if applicable) of approximately HKD 210 million to approximately HKD 240 million on the Group's properties under development, completed properties held for sale and properties held for own use, in view of the current unfavourable property market in Hong Kong; and (ii) a net unrealised fair value loss on the Group's investment properties and investment properties under development of approximately HKD 110 million to approximately HKD 140 million during the Year, as compared to a net unrealised fair value gain of approximately HKD 384.2 million for the Previous Year.