Longfor Group Holdings Limited provided preliminary unaudited consolidated earnings guidance for the year ended 31 December 2023. For the period, the company compared to the profit attributable to the owners of the Company of RMB 24.36 billion and the core net profit attributable to shareholders (excluding effects of fair value changes) of RMB 22.54 billion for the year ended 31 December 2022, both the profit attributable to the owners of the Company and the core net profit attributable to shareholders (excluding effects of fair value changes) for the year ended 31 December 2023 are expected to record a decrease of approximately 45% to 50%, mainly due to the decline in contracted sales and price pressure resulted from the downturn in the real estate industry in 2022 and 2023, which resulted in the decline in revenue recognized and gross profit margin recognized of the property development segment.