Zensun Enterprises Limited provided consolidated earnings guidance for the six months ended June 30, 2023. For the period, the group is expected to record a net loss of ranging from approximately RMB 350.0 million to RMB 450.0 million, as compared to the net profit of approximately RMB 54.6 million for the six months ended 30 June 2022. Based on the information currently available, the Board considers the change of the position of the Group from having net profit to net loss is mainly attributable to the following factors: (i) the real estate market of the PRC continued to be sluggish, with lower income and lower gross profit margin of property projects of the Group being carried forward from the Reporting Period; (ii) the increase of impairment provision made for property projects of the Group; and (iii) exchange losses on the debts denominated in USD under the impact of changes in the exchange rate between USD and RMB.