SOCAM Development Limited provided earnings guidance for the six months ended 30 June 2022. For the six months, the company expected to record a net loss of around HKD 70 million for the 2022 Interim Period, as compared to a net profit of approximately HKD 20 million for the corresponding period in 2021 The expected net loss for the 2022 Interim Period is mainly attributable to the foreign exchange loss of approximately HKD 120 million attributable to a 4.6% depreciation of Renminbi against Hong Kong dollars in the 2022 Interim Period, as compared to the foreign exchange gain of approximately HKD 31 million recognised for a 1.1% appreciation in the 2021 Interim Period.