The Board of Directors of Applied Development Holdings Limited announced that the Group may record a loss of approximately HKD 256 million for the year ended 30 June 2020, as compared to the loss of approximately HKD 78 million for the year 30 June 2019. The Board considered that the change was mainly attributable to, among others, the following factors: a decrease in the fair value of the Group's investment properties from a net fair value gain of approximately HKD 45 million in the financial year ended 30 June 2019 to a net fair value loss of approximately HKD 75 million in the financial year ended 30 June 2020.