Baoye Group Company Limited provided unaudited group earnings guidance for the six months ended 30 June 2023. For the period, the group expects to record an increase in net profit not less than 150% as compared to the corresponding period in 2022. The Board believes that the substantial increase in profit is mainly attributable to the Group recognised a compensation income of approximately RMB 337 million for the mandatory land and housing storage requisition of a wholly-owned subsidiary for the public rail transportation construction from the local government; and the major properties delivered to purchasers in 2023 has been recognised as revenue in the first half of the year.