Redsun Properties Group Limited provided earnings guidance for the six months ended 30 June 2023. The Group is expected to record expected to record net loss during the Period in the range of approximately RMB 2,500 million to RMB 3,000 million (the corresponding period in 2022: loss of RMB 405 million). The net loss of the Period was mainly attributable to the facts that (1) the market has not recovered yet, the size of the real estate industry continued to decline, and the revenue and gross profit generated by the Group's real estate projects decreased year-on-year; (2) based on the sales in the first half of the year and the management's expectation of the selling price, the Group and some associates and joint ventures of the Group made further provisions for the impairment losses of properties under development and completed properties held for sale; and (3) the decline in the exchange rate of RMB against USD resulted in an increase of exchange loss.