Guangzhou R&F Properties Co., Ltd. provided group earnings guidance for the six months ended 30 June 2023. For the period, the Group expects to incur a net loss of approximately RMB 4.9 billion which is an improvement in profitability of approximately RMB 1.9 billion compared with the same period last year. The expected net loss is mainly attributable to the decrease in recognised sales resulting from challenging operating conditions in the property sector and financial conditions that has affected market sentiment towards China property as well as foreign exchange loss caused by the depreciation of Renminbi against US Dollars.