China Jinmao Holdings Group Limited provided group earnings guidance for the year ended 31 December 2020. The Group will record a decrease between approximately 40% and 50% in the profit attributable to owners of the parent (excluding fair value gains on investment properties) for the year ended 31 December 2020 as compared to that for the year ended 31 December 2019. The decrease is mainly attributable to the austerity measures of real estate sector which resulted in the selling prices of the projects of the Group and some of its associates and joint ventures being lower than expected. As a result, the Company is required to make impairment provision for its properties under development and properties held for sale for the year ended 31 December 2020. Excluding the impairment factor, the Group will record a significant increase between approximately 40% and 50% in the revenue from properties delivered and settled for the year ended 31 December 2020 as compared to that for the year ended 31 December 2019.