Shimao Services Holdings Limited provided earnings guidance for the six months ended June 30, 2022. For the period, the group expected that the Group's profit attributable to shareholders will not exceed RMB 140 million, whereas the profit attributable to shareholders amounted to RMB 578 million for the corresponding period in 2021. The expected decrease was mainly attributable to the increase in provision of impairment for trade receivables affected by the market environment of the real estate industry and a decline of credit rating of real estate companies; the increase in interest expenses arising from the issuance of convertible bonds; and part of the value-added business has not commenced on schedule due to a decline in demand for services projects from real estate developers and the impact of the COVID-19 pandemic, resulting in the decrease in revenue.