Poly Property Group Co., Limited provided earnings guidance for the year December 31, 2023. For the period, the Group expects that the profit attributable to owners of the Company would increase not less than 70%, as compared to RMB 816,148,000 for the financial year of 2022. The increase in profit attributable to owners of the Company is mainly due to (1) a decrease in the proportion of high-profit projects being realised within the year, resulting in a significant decrease in total tax expenses for the year, (2) a reduction in the amount of foreign exchange losses recorded due to the depreciation of Renminbi compared to the year of 2022, and (3) a decrease in the provision for impairment of properties under development and held for sale compared to the year of 2022.