Midland Holdings Limited provided earnings guidance for the six months ended June 30, 2023. For the period, the group expected to record a net profit attributable to equity holders of not more than HKD 40 million, as compared to the net loss attributable to equity holders of approximately HKD 232 million for the six months ended 30 June 2022. The turnaround of the Group's results was attributable to, among other factors: the Group's business units "Midland Realty " and "Hong Kong Property" recorded an operating profit for the six months ended 30 June 2023 as compared with an operating loss for the corresponding period in 2022.

Such improvement was attributable to (a) the increase in the Group's market share in Hong Kong; and (b) the successful capture of the rebound in the Hong Kong residential property market; and efforts towards streamlining the Group's businesses in Hong Kong and Mainland China while maintaining the strength of the local frontline operations.