The boards of directors (the "Boards") of Magnificent Hotel Investments Limited announced that based on the preliminary assessment of the unaudited consolidated management accounts of the Groups for the six months ended 30 June 2023 (the "2023 Interim Period") and information currently available, it is expected that the approximate change in net profit of the company for the 2023 Interim Period as compared to that for the six months ended 30 June 2022 (the "2022 Interim Period") is as follows: Net profit after tax attributable to owners of the company after revaluation and depreciation No less than HKD 9 million as compared to HKD 61 million a year ago. Net profit after tax attributable to owners of the company before revaluation and depreciation of No less than HKD 49 million as compared to HKD 157 million a year ago.