According to the announcement, revenue declined mainly due to a decrease in income from residential, demonstration units and sales office projects, with a YoY decrease of 21.2%; net loss expanded by about 1.8 times to HKD 8.555 million, with a loss per share of 3.97 HK cents.

The decrease in revenue is mainly attributable to the decline in revenue from residential, demonstration units and sales office projects.

The increase in loss is mainly attributable to factors such as decreasing revenue; a decrease in service costs of approximately HKD 4 million; a decrease in gross profit of approximately HKD 3.5 million; a decrease in other income of approximately HKD 1.3 million; an increase in the loss from an equity affiliate of approximately HKD 1.4 million; and an increase in the fair value loss of financial assets measured at fair value through profit or loss of approximately HKD 1.4 million.