Value Partners Group Limited provided consolidated earnings guidance for the six months ended 30 June 2022. For the six months, the company announced that, based on preliminary review of the latest available financial information of the Company, it is expected that the Company will record a consolidated loss for the six months ended 30 June 2022. Consolidated loss attributable to owners of the Company is expected to be about HKD 435 million for the six months ended 30 June 2022 (unaudited estimate), compared with a profit of HKD 210 million in the same period last year.

The expected consolidated loss attributable to owners of the Company is mainly attributable to: (i) a reduction in gross management fee to HKD 305 million for the six months ended 30 June 2022, declining by approximately 39% from HKD 502 million for the six months ended 30 June 2021 resulting from the decrease in the Group's assets under management; (ii) a decrease in performance fee income by HKD 90 million for the current period as returns of most of the relevant funds under management did not surpass their previous high watermarks or benchmarks as at 30 June 2022. Since performance fees for most of the Group's major own branded funds are crystallized at the end of the year, performance of the Group's funds in the second half of the year would determine if the Group can collect further performance fees in 2022; and (iii) net fair value losses of the Group's investments which include seed capital investments, investments in its own funds and other investments. The investment loss amounted to about HKD 330 million in the first half of 2022, compared to a gain of HKD 45 million a year earlier, mainly driven by unfavorable market conditions during the subject period.