Xiwang Property Holdings Company Limited provided consolidated earnings guidance for the year ended 31 December 2022. For the year, the company expected to record a consolidated net loss of approximately RMB 7.0 million to RMB 9.0 million during the Current Year as compared with a consolidated net profit of approximately RMB 7.8 million during the year ended 31 December 2021. This is mainly attributable to the (i) decrease in the reversal of over-provision of land appreciation tax; (ii) increase in administrative expenses; and (iii) goodwill impairment in the Current Year when compared to the Previous Year.