Midland IC&I Limited provided group consolidated earnings guidance for the six months ending June 30, 2022. For the period, the company expected that the Group will record a substantial decline in financial results as compared to the consolidated net profit attributable to equity holders of approximately HKD 33 million for the six months ended June 30, 2021 and may record slight loss or achieve breakeven for the first half of 2022. The expected substantial decline in financial results was mainly attributable to, among other factors, the adverse market conditions caused by the outbreak of the fifth wave of the COVID-19 pandemic in Hong Kong since January 2022, which led to a significant drop in the transaction value and volume of the non-residential properties in Hong Kong.