Guangdong Adway Construction (Group) Holdings Company Limited provided earnings guidance for the year ended 31 December 2021. For the year, based on the information currently available to the management of the Group, the company expects to record a loss attributable to equity holders of the Company of approximately RMB 480 million, compared with the loss attributable to equity holders of the Company of approximately RMB 330 million for the year ended 31 December 2020, there is an increase of approximately RMB 150 million. The Loss was mainly due to (i) the systemic impact of the COVID-19 epidemic and the state's regulation on the real estate industry, which affected the liquidity of customers' funds in the industry, and increased uncertainty in the return of payment from some of the Group's customers; (ii) after a prudent assessment by the management of the Company, the Company has made provision for impairment losses on the contract assets and accounts receivable of customers with recoverability risks; (iii) the Group adopts a prudent business strategy and order strategy in operation, the reduction in the newly signed orders and construction work resulted in a decrease in annual revenue; and (iv) due to two consecutive years of losses and based on prudence, the management of the Company derecognized the amount of deferred income tax assets of approximately RMB 100 million.