Hong Kong International Construction Investment Management Group Co., Limited provided earnings guidance for the six months ended 30 June 2019. The Group is expected to record a substantial loss of no less than HKD 1.1 billion for the six months ended 30 June 2019, as compared with the profit of approximately HKD 1 billion for the corresponding period in 2018. Based on information available to the Board immediately preceding the release of this announcement, the expected loss of the Group for the six months ended 30 June 2019 was principally attributable to (a) the one-off loss of approximately HKD 0.7 billion from the sale of Twinpeak Assets Limited, a former subsidiary of the Company which held the piece of land parcel known as New Kowloon Inland Lot No. 6563, on Kai Tak Area 1L Site 2, Kai Tak, Kowloon, Hong Kong, details of which are disclosed in the announcement of the Company dated 1 February 2019; (b) the one-off write-down of assets held for sale to net realisable value of approximately HKD 0.1 billion as the Group has entered into a sale and purchase agreement in relation to the sale of Superior Choice Holdings Limited, a subsidiary of the Company which holds the property situated at No.151 Hollywood Road, Hong Kong on 19 June 2019, details of which are disclosed in the announcement of the Company dated 19 June 2019, assuming completion takes place in accordance with the terms of the sale and purchase agreement; (c) fair value losses of the Group's investments of approximately HKD 0.2 billion; and (d) the operating loss, which is primarily due to intense market competition in the foundation piling business.