Pak Fah Yeow International Limited provided earnings guidance for the year ended 31 December 2022. For the period, the group is expected to record a consolidated net profit attributable to owners of the Company in the region of approximately HKD 30.0 million for the year ended 31 December 2022, as compared to the published consolidated net profit attributable to the owners of the Company of HKD 38.2 million for the same corresponding period in 2021. The Board considers that such decrease in profit was mainly attributable to (1) unrealised fair value loss on the Group's investment properties of approximately HKD 7.8 million as compared to the unrealised fair value gain of HKD 1.0 million of the corresponding period in 2021 due to assessment of property valuation; (2) unrealised fair value loss on the Group's financial assets of approximately HKD 2.5 million as compared to the unrealised fair value gain of HKD 2.0 million of the corresponding period in 2021 due to change in market price; (3) an increase in advertising and promotional expenses in line with the sales and marketing plan in 2022; and (4) additional property expenses in 2022 for building renovation and maintenance works and related costs.

Notwithstanding the foregoing, there was an increase in sales revenue of the healthcare business of approximately HKD 6.0 million as compared to the same period in 2021.