Infinity Development Holdings Company Limited provided earnings guidance for the six months ended March 31, 2022. For the year, the company expected consolidated profit attributable to the owners of the Company to be not less than HKD 53,000,000 for the Reporting Period, representing an increase by not less than 78% as compared to the consolidated profit attributable to the owners of the Company of approximately HKD 29,760,000 for the Corresponding Period. The expected change in the consolidated profit attributable to the owners of the Company for the Reporting Period was mainly due to the combined effect of the one off and non-recurring gain on disposal of fourteen commercial units located in Macau with an amount of not less than HKD 32,500,000 recognised during the Reporting Period arising from the completion of the Disposal of Properties on December 28, 2021; and the decrease in gross profit as a result of the increase in cost of goods sold primarily due to the increase in costs of purchase during the Reporting Period.

For details of the Disposal of Properties and its accounting impact, please refer to the circular of the Company dated September 29, 2021.