Grand Field Group (00115) announced that primarily due to the expected gain from the disposal of Jiafeng of approximately HK$60.6 million and estimated income tax credit of approximately HK$21-25 million for the six months ended June 30, 2025 (mainly attributable to deferred tax arising from the decrease in fair value of investment properties), compared to income tax expense of approximately HK$2.7 million for the six months ended June 30, 2024, the net loss attributable to owners of the company for the six months ended June 30, 2025 will be significantly reduced compared to the same period in 2024.

However, the above impact was partially offset by a decrease in gross profit of approximately HK$16-24 million compared to the same period in 2024, fair value loss on investment properties of approximately HK$88-95 million, and impairment loss on properties held for sale of approximately HK$10-15 million. The decline in gross profit was mainly due to intense market competition in the property segment, while the fair value loss on investment properties and impairment loss on properties held for sale were both consistent with the ongoing competitive market environment (of which approximately 50% of such fair value losses and approximately 32% of such impairment losses are attributable to non-controlling interests of the company).

Therefore, for the six months ended June 30, 2025, the net loss attributable to owners of the company is currently estimated to significantly decrease to approximately HK$3-9 million, compared to the net loss attributable to owners of the company of approximately HK$25.8 million for the six months ended June 30, 2024; and for the six months ended June 30, 2025, the Group's net loss is currently estimated to significantly increase to approximately HK$58-66 million, compared to the Group's net loss of approximately HK$36.8 million for the six months ended June 30, 2024.