Summit Ascent Holdings Limited provided group earnings guidance for the ended 31 December 2023. The Board informed the shareholders of the Company and potential investors that, based on the preliminary review of the latest unaudited consolidated management accounts of the Group for the year ended 31 December 2023, the Group is expected to record a loss attributable to the Shareholders for the year ended 31 December 2023 compared with the profit of approximately HKD 11.8 million for the corresponding year in 2022. The expected loss for the year ended 31 December 2023 is mainly due to the effect of followings: a decrease in revenue from gaming and hotel operations by 1% to approximately HKD 369.1 million for the year 2023 from approximately HKD 372.3 million for the year 2022 due to the fluctuation of the Russian Ruble; an impairment loss recognised on property, operating right and equipment of approximately HKD 438.8 million for the year 2023 whereas no such impairment loss was recorded for the year 2022; and the recognition of exchange losses of approximately HKD 39.1 million caused by the fluctuation of the Russian Ruble, whereas exchange gains of approximately HKD 60.0 million were recognised for the year 2022.