On June 13th, Gelunhui reported that based only on the unaudited comprehensive management accounts of the group and the annual data obtained by the board of directors as of March 31, 2024, the group expects to record a net comprehensive loss of no less than 400 million Hong Kong dollars for that year, compared to a net comprehensive profit of approximately 29.9 million Hong Kong dollars for the year ended March 31, 2023.

The expected net comprehensive loss is mainly due to (including) (i) disposals of development properties held for sale, (ii) disposals of properties held for sale, (iii) fair value losses on investment properties, and (iv) increased financing costs.