According to the Zhitong Finance App, Shengbai Holdings (02340) announced that the Group expects to achieve the following financial results for the six months ending June 30, 2023: earnings for this period will decrease by about 20% to 25% from the first half of 2022; and losses after tax for this period will range from HK$5 million to HK$9 million, while profit after tax for the past period is about HK$439.8 million, including continuing operating profit of about HK$1.3 million and terminated business spillover contracts arising from the sale of Hong Kong property and facility management business and ancillary businesses in Hong Kong on January 10, 2022 HK$438.4 million.

In addition to the significant benefits from sales matters, the reasons for losses during this period are listed as follows: the property market continued to be sluggish during this period, resulting in the Group's lack of sufficient new interior decoration and special project orders to supplement; work progress on the Group's existing projects was delayed due to delays in land handover; during this period, provision was made for the Group's provisional order to pay the plaintiff's expenses on a compensation basis based on court decisions; and an increase in staff costs arising from supporting legal litigation during this period; and a one-time subsidy confirming the employment insurance plan introduced by the Hong Kong Special Administrative Region Government of China over the past period.