China New Town Development Company Limited provided consolidated earnings guidance for the six months ended 30 June 2022. The group is expected to record a net profit of approximately RMB 78 million for the six months ended 30 June 2022, as compared with a net profit of approximately RMB 126.71 million for the six months ended 30 June 2021. In the first half of 2022, the Group's operating income increased steadily, with a year-on- year increase of approximately RMB 33.51 million; the year-on-year decrease in the net profit in the first half of 2022 was mainly due to the reversed expected credit losses of RMB 63.9 million in the same period of 2021, while the Group did not have such reversed expected credit loss in the first half of 2022.