CSI Properties Limited provided consolidated earnings guidance for the year ended 31 March 2024. For the year, the Group is expected to record a consolidated loss attributable to owners of the Company between HKD 420 million and HKD 470 million for the year ended 31 March 2024, as compared to a profit of HKD 336 million for the year ended 31 March 2023. The change is mainly attributable to the failure to reach a consensus within the prescribed time limit with the Lands Department of the Government of Hong Kong regarding the land premium payable on the relevant lots situated in Kwu Tung North/Fanling North New Development Areas under the Group's joint venture project (the JV Project), resulting in the release of ex-gratia land compensation in return for the resumption of land (the "Land Resumption").

In turn, this leads to the anticipated impairment loss in respect of investment in the JV Project to be recognised in the consolidated statement of profit or loss for the year ended 31 March 2024. The Land Resumption will not have a material adverse effect on the business operations, and will have a minimal cashflow impact to the Group.