Guoco Group Limited — Earnings Release 2024

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

==> picture [55 x 55] intentionally omitted <==

FAR EAST HOTELS AND ENTERTAINMENT LIMITED 遠東酒店實業有限公司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 00037)

PROFIT WARNING

This announcement is made by Far East Hotels and Entertainment Limited (the “Company”), and together with its subsidiaries (the “Group”), pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”) and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board of directors of the Company (the “Board”) wishes to inform the shareholders and potential investors of the Company that the interim results of the Group for the six months ended 30 September 2023 (the “Period”) are expected to record a net loss in the region of HK$8 million, compared with a net profit of approximately HK$20 million for the corresponding period in 2022. Based on the currently available information, the expected loss is mainly attributed to the combined effects of (i) a minimal increase of HK$0.1 million in fair value of investment properties during the Period (30 September 2022: HK$32.1 million); and (ii) a decrease of HK$2.2 million in fair value of financial assets at fair value through profit or loss during the Period (30 September 2022: HK$7.8 million).

The information contained in this announcement is only a preliminary assessment made by the Board based on the information currently available to the Company. The unaudited interim results of the Group have not been finalised and are subject to further review by the Board. Detailed financial information and performance of the Group for the Period will be disclosed in its interim results announcement for such financial period which is expected to be published by the end of November 2023.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

For and on behalf of

Far East Hotels and Entertainment Limited

Derek Chiu

Executive Director, Chairman, Managing Director and Chief Executive

Hong Kong, 14 November 2023

As at the date of this announcement, the executive Directors are Mr. Derek Chiu and Ms. Amanda Chiu; the non-executive Directors are Mrs. Chiu Ju Ching Lan and Mr. Alex Chiu; the independent non-executive Directors are Mr. Ip Shing Hing, Mr. Ng Wing Hang Patrick, Mr. Choy Wai Shek Raymond and Mr. Ng Chi Kin.