New City Development Group Limited provided group earnings guidance for the year ended 31 December 2019. The board of directors of the company announced that, based on preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 December 2019 and assessment of the information currently available, the Group expects to record a net loss of approximately HKD 20 million as compared to a net profit for the corresponding period in 2018. Based on the information currently available, the Board considers the change from profit to loss was mainly attributable to the absence of the fair value gain on investment properties of approximately HKD 56.9 million recorded in 2018.