Wharf Holdings and Wharf Real Estate issued profit warnings together, affected by the revaluation of property investments, expecting a turnaround from profit to loss in the first half of the year

The Wharf Holdings and WHARF HOLDINGS are expected to turn from profit to loss in the first half of the year, due to property investment revaluation. The net loss from property investment revaluation by The Wharf Holdings may exceed HKD 2.5 billion to 2.8 billion, compared to a profit of HKD 700 million in the same period last year; WHARF HOLDINGS is expected to incur a revaluation loss of about HKD 900 million, while it made a profit of HKD 1.81 billion in the same period last year. Despite this, The Wharf Holdings and WHARF HOLDINGS stated that their overall financial position remains robust. Revaluation losses are non-cash and unrealized items