The board of directors of Hua Yin International Holdings Limited informed the shareholders and potential investors of the Company that, based on the preliminary assessment of the latest available unaudited consolidated management accounts of the Group for the six months ended 30 September 2021 and the information currently available to the Board, the Group is expected to record a net profit for 21/22 Interim Period to be not lower than approximately RMB 15.0 million, compared with a net loss of approximately RMB 607.2 million for the six months ended September 2020. Such turnaround for the 21/22 Interim Period was mainly attributable to (i) a reversal of write-down in respect of a property project in Fusong County of approximately RMB 19.2 million made in the 21/22 Interim Period due to a slight improvement in the general market and the government's vigorous promotion in the development of ski resort market, as compared to a write-down provision of approximately RMB 442.3 million in the 20/21 Interim Period; (ii) no further write-down in the net realizable value of the Group's completed properties in the 21/22 Interim Period (20/21 Interim Period: approximately RMB 25.5 million); (iii) an one-off gain of approximately RMB 64.3 million arising from the completion of the disposal of the equity interests of Ground Real Estate Group Company Limited and its project companies in Jilin City in the 21/22 Interim Period; (iv) a reversal of over-accrual of interest expenses in prior years of approximately RMB 15.4 million in the 21/22 Interim Period; and (v) partially offset by the decrease in fair value of the Group's investment properties of approximately RMB 46.6 million (20/21 Interim Period: approximately RMB 29.0 million).