China New Town Development Company Limited provided earnings guidance for the year ended 31 December 2020. For the year, the company expected to record a net loss of approximately RMB 245 million for the twelve months ended 31 December 2020, as compared with a net profit of approximately RMB 111.35 million for the twelve months ended 31 December 2019. The recorded loss for the year ended 31 December 2020 was mainly due to the provision of approximately RMB 324 million for impairment of risk assets related to the Nanchang Science and Technology Park Project of Chinese Academy of Sciences and Qinhuangdao Shanty-town Reformation Projects.