Xiwang Property Holdings Company Limited provided earnings guidance for the year ended 31 December 2021. For the year, the Group is expected to record a consolidated net profit of not less than approximately RMB 7.0 million during the Current Period as compared with a consolidated net loss of approximately RMB 11.12 million during the year ended 31 December 2020. This is mainly attributable to the reversal of over-provisions of land appreciation tax of approximately RMB 4.80 million and income tax credit of approximately RMB 4.67 million recorded in the Current Year.