China Merchants Land Limited Provides Earnings Guidance for the Year Ending December 31, 2021
corresponding period in 2020 (approximately RMB 701 million), primarily due to the reasons
as stated below: compared with the same period in 2020, the projects with low gross profit margin
accounted for a higher proportion in the Group's projects carried forward for the year
ended 31 December 2021 and therefore the overall gross profit margin decreased; and for the year ended 31 December 2021, the proportion of the Group's projects through
non-wholly owned subsidiaries to the Group's projects carried forward increased and
therefore the net profit attributable to the shareholders of the Company decreased.