Century Ginwa Retail Holdings Limited provided earnings guidance for the six-months ended 30 June 2022. For the period, it is expected that the Group will record an increase of over 39% in the loss attributable to equity shareholders of the Company for the six-month period ended 30 June 2022 as compared to the six-month period ended 30 June 2021. Based on currently available information, the aforesaid increase in the loss attributable to equity shareholders of the Company was mainly attributable to: a drop in the Group's revenue by approximately 20% attributable to the implementation of renovation plan of two department stores and a shopping mall of the Group in Xi'an; the provisions for impairment of goodwill and intangible assets of approximately RMB 30.16 million, which is determined based on: the delay in the opening of one of the department stores as mentioned in item; and a conservative estimate of the sales situation of the department store after its opening.

As such impairment is non-cash in nature, it will not have any material effect on the cash flow and the business operation of the Group; and net finance costs expected to increase by approximately 36% as compared to the same period last year attributable to the increase in loan amount and lease liability.