Glory Sun Land Group Limited provided preliminary consolidated earnings guidance for the six months ended 30 June 2023. The board of directors of Glory Sun Land Group Limited informed the shareholders of the Company and potential investors that, based on a preliminary review and assessment of the information currently available to the Board, including the unaudited consolidated management accounts of the Group for the six months ended 30 June 2023, the Group is expected to record a net loss ranging from approximately HKD 200 million to HKD 250 million for the Period as compared to the net loss of approximately HKD 390 million for the six months ended 30 June 2022. The expected net loss is mainly attributable to: (i) decrease in revenue and gross profit margin and provision for impairment for the property inventories mainly caused by the downturn in the PRC real estate market; (ii) a drop in the fair value on investment properties; and (iii) the relevant loss on disposal of subsidiaries during the Period.