China New City Commercial Development Limited provided consolidated earnings guidance for the six moths ended June 30, 2021. Based on the preliminary review of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2021, although the Group is expected to record a significant increase in each of revenue and gross profit for the 2021 Period by approximately RMB 241.6 million (or 79.1%) and approximately RMB 63.3 million (or 114.0%) respectively as compared to the corresponding period for the six months ended 30 June 2020 (the " 2020 Period ") as a result of the strong sales of completed commercial real estate development projects as part of the Group's core business, an unaudited consolidated net loss of approximately RMB 67.7 million of the Group for the 2021 Period is expected to be recorded as compared to the unaudited consolidated net profit of approximately RMB 54.8 million of the Group in the 2020 Period, which was primarily attributable to the fact that the Group recorded an unaudited fair value gain upon transfer to investment properties in the amount of approximately RMB 356.8 million for the 2020 Period which was not available in the 2021 Period.