Kowloon Development Company Limited provided unaudited consolidated earnings guidance for the year ended 31 December 2022. For the year, the Group is expected to record a significant increase in underlying profit attributable to shareholders of the Company in the range of 70% to 80% for the year ended 31 December 2022 as compared to that of the corresponding period in 2021, which was mainly due to the increase in sales recognition from the property development projects of the Group in Hong Kong as substantial presold residential units of Manor Hill, a wholly-owned development project of the Group in Tseung Kwan O, have been delivered to the buyers by the end of 2022. However, the Group is expected to record a considerable decrease in profit attributable to shareholders of the Company in the range of 35% to 45% for the year ended 31 December 2022 as compared to that of the corresponding period in 2021, which was mainly due to the decrease in net fair value gains on investment properties in Hong Kong, partially offset by the increase in sales recognition from the property development projects in Hong Kong as mentioned above.