China Yuanbang Property Holdings Limited announced that based on the preliminary review of the Group's unaudited consolidated financial results for the financial year ended 30 June 2022, the Group is expected to report a net loss for FY2022. The expected net loss for FY2022 is mainly due to a significant decline in number of residential units of the Group's projects handed over to buyers. As previously announced on 19 May 2022 to SGX-ST, the Group's construction sites and sales centres of certain projects namely Hou De Zai Wu, Ren Jie Di Ling and Shang Qing Shui Xiu were temporarily closed during months of April and May in compliance with the Chinese government rules in addressing the COVID-19 situation.
China Yuanbang Property Holdings Limited
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BMG2159Z2094
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