Sunkwan Properties Group Limited provided consolidated earnings guidance for the year ended 31 December 2022. The group is expected to record net loss attributable to owners of the parent ranging from approximately RMB 1.7 billion to RMB 2.2 billion for the Year as compared with profit attributable to owners of the parent of approximately RMB 250 million for the year ended 31 December 2021, primarily due to a decrease in revenue recognized for properties sold for the Year, which resulted from the resurgence of novel coronavirus epidemic and the implementation of relevant prevention policy in China during the Year; an increase in provision for impairment of inventories due to the lower average selling price of property projects resulted from the resurgence of novel coronavirus epidemic and unfavorable macro market environment in China in 2022; and the exchange losses arising from debts denominated in the U.S. dollar as a result of the change of exchange rate between U.S. dollar and Renminbi.