New World Department Store China Limited provided earnings guidance for the year ended 31 December 2021. For the year, The board of directors of the Company (the "Board") informed the shareholders of the Company and potential investors that, based on a preliminary assessment on the unaudited consolidated management accounts of the Company for the six months ended 31 December 2021, the Group expects to record a profit attributable to shareholders of the Company of approximately HKD 40.0 million for the six months ended 31 December 2021, as compared to a loss attributable to shareholders of the Company of approximately HKD 203.9 million for the six months ended 31 December 2020. The expected turnaround from loss to profit for the six months ended 31 December 2021 is primarily attributable to a decrease in impairment loss on assets, including goodwill, property, plant and equipment and right-of-use assets recognised for the period, as compared with the six months ended 31 December 2020; and a net gain on derecognition of lease liabilities and right-of-use assets due to downsizing and closure of certain department stores during the six months ended 31 December 2021.