Zhongliang Holdings Group Company Limited provided consolidated earnings guidance for the six months ended 30 June 2022. The company expects that the group will record a decrease by approximately 65% to 75% in the profit attributable to owners for the six months ended 30 June 2022 as compared to the same period in 2021 of approximately RMB 1,382 million. Due to the impacts of the unfavorable macro and real estate market environment in China, the expected decrease is mainly attributable to (i) the decrease in the area of properties delivered resulting in the decrease in revenue recognized from sale of properties; (ii) the decrease in gross profit margin due to weak real estate market; (iii) losses from effect of foreign exchange rates; and (iv) increase in impairment on property projects and fair value losses on investment properties.