China Merchants Land Limited provided consolidated earnings guidance for the six months ended 30 June 2023. Based on the Board's preliminary assessment of the Group's unaudited consolidated management accounts for six months ended 30 June 2023, which have not been reviewed by the Company's auditors, the profit attributable to owners of the Company is expected to decrease by approximately 65%, as compared to the corresponding period in 2022 (approximately RMB 250 million). The decrease in profit attributable to owners of the Company was attributable to the fact that the Group's profit for the current period was mainly contributed by the Company's non-wholly owned subsidiaries with lower average shareholding compared to the shareholding percentage of the Company's non-wholly owned subsidiaries contributing profit for the same period of the previous year.