Guangdong Land Holdings Limited provided unaudited consolidated earnings guidance for the nine months ended 30 September 2023. For the period, the board of directors of the Company informed the shareholders of the Company and potential investors that, based on a preliminary review of the unaudited consolidated management accounts of the Group, it is expected that the Group will record an unaudited loss attributable to owners of the Company of not more than HKD 80.00 million for the nine months ended 30 September 2023, while the unaudited profit attributable to owners of the Company for the same period in 2022 was approximately HKD 833 million. As at 30 September 2023, the Group's financial position remained stable.

The major factors that affected the said anticipated results of the Group for the nine months ended 30 September 2023 include the following: the properties delivered of the Group during the period under review were mainly the Jiangmen One Mansion Project and the Jiangmen GDH City (Land No. 3) Project, while the properties delivered in the same period in 2022 were mainly the properties in the Shenzhen GDH City (Northwestern Land) Project with higher gross profit margins, therefore the profit derived from the sale of properties decreased as compared to the same period in 2022; affected by the real estate market environment, the Group made provision for inventory impairment during the period under review due to signs of impairment in some of the Group's property projects; the fair value gains on investment properties recorded by the Group during the period under review decreased when comparing with the same period in 2022; and due to business expansion of the Group, net finance costs increased when comparing with the same period in 2022.