LVGEM (China) Real Estate Investment Company Limited provided earnings guidance for the year ended 31 December 2022. The Group for the year ended 31 December 2022 and the information currently available to the management, the Group will record a loss attributable to the owners of the Company of approximately RMB 657 million to RMB 803 million for the year ended 31 December 2022, compared with the profit attributable to the owners of the Company of approximately RMB 1,153 million for the year ended 31 December 2021. The financial performance of Group turnaround from profit to loss was mainly attributable to (i) the decrease in revenue of sale of properties in current year as compared to the year ended 31 December 2021; and (ii) the decrease in fair value change of investment properties resulting from changes in market environment.