Ever Reach Group (Holdings) Company Limited provided consolidated earnings guidance for the year ended December 31, 2022. For the year, the company expects that compared to a profit after tax of approximately RMB 303.2 million recorded for the Group for the year ended 31 December 2021 the Board estimates that the profit after tax recorded for the Group for Fiscal Year 2022 will decrease by approximately 65% to 80%. Moreover, the profit attributable to equity shareholders of the Company for Fiscal Year 2022 is estimated to decrease by approximately 65% to 80%, compared with a profit attributable to equity shareholders of the Company of approximately RMB 306.9 million for Fiscal Year 2021.

The expected decrease in profit for the FY2022 is mainly due to the decrease in gross profit for the Fiscal Year 2022 of approximately 45% to 55%, which is primarily attributable to the increase in unit costs of properties held for sale.