Gemdale Properties and Investment Corporation Limited informed the shareholders of the Company and potential investors that, based on the latest unaudited consolidated management accounts of the Group for the year ended 31 December 2023 and other currently available information, it is expected that the Group may record a profit attributable to the owners of the Company ranging from approximately RMB 200 million to RMB 400 million for the year ended 31 December 2023, as compared to the profit attributable to the owners of the Company of approximately RMB 2.311 billion for the year ended 31 December 2022. The decrease in profit attributable to shareholders of the Company was mainly due to the decrease in share of profits of joint ventures and associates in 2023.