China New City Commercial Development Limited provided earnings guidance for the six months ended June 30, 2022. For the six months, the company is expected to record a significant decrease in each of revenue and gross profit for the 2022 Period by approximately RMB 290.0 million (or 53.0%) and approximately RMB 70.0 million (or 58.9%) respectively as compared to the corresponding period for the six months ended 30 June 2021 as a result of the COVID-19 epidemic and external economic pressures have brought more severe challenges to the entire industry, the commercial and hotel segments were in an abnormal state during the half-year operation. An unaudited consolidated net loss of approximately RMB 238.5 million of the Group for the 2022 Period is expected to be recorded with compared to the unaudited consolidated net loss of approximately RMB 67.7 million of the Group in the 2021 Period, which was primarily attributable to the fact that the Group has recorded a decrease in fair value of investment properties of approximately RMB 95.6 million for the 2022 Period.