Shanghai Zendai Property Limited provided earnings guidance for the six months ending June 30, 2022. For the period, the company expects to record a increase of loss attributable to owners of the Company for the six months ended 30 June 2022 as compared to the loss attributable to owners of the Company for the six months ended 30 June 2021 (the Prior Reporting
Period). Based on the preliminary review of the management accounts of the Group and information currently available to the Company, the anticipated increase in loss attributable to owners of the Company is mainly attributable to a decline in revenue and gross profit of approximately 55% and 37% respectively due to a decrease in properties being delivered and recognized as revenue during the Reporting Period as compared to the revenue and gross profit during the Prior Reporting Period; and a significant decrease in gains on disposal of an investment property of approximately 99% during the Reporting Period as compared to the
Prior Reporting Period. As a result, the loss attributable to owners of the Company for the Reporting Period is expected to increase by approximately 37% as compared to the loss attributable to owners of the Company for the Prior Reporting Period.