China Yuanbang Property Holdings Limited provided consolidated earnings guidance for the financial year ended 30 June 2023. For the year, the Group is expected to report a net loss. The expected net loss for fiscal year 2023 is primarily attributed to a significant rise in impairment losses within inventories, loans, and other receivables.

This increase in impairment is caused by the recent downturn in Chinese real estate market, which has led to higher impairments using the expected credit loss model.