Chevalier International Holdings Limited provided consolidated earnings guidance for the year ended 31 March 2024. For the year, Group expects to record a loss after tax attributable to shareholders of the Company in the range of approximately HKD 300 million to HKD 400 million (unaudited), as compared to a profit after tax attributable to shareholders of the Company of approximately HKD 258 million (unaudited and restated) for the last corresponding year. Based on an analysis of the unaudited financial information currently available, the loss for the year ended 31 March 2024 of the Group is principally attributable to the recognition of provision for properties under development; loss on investments at fair value through profit or loss; impairment loss on goodwill; and decrease in the fair value of certain investment properties as at 31 March 2024.

Shareholders of the Company and potential investors should, however, note that the above factors are accounting losses with no immediate cash flow impact to the Group. Although the Group is expected to record a loss for the year ended 31 March 2024, the financial position of the Group remains healthy and sound.