JY Grandmark Holdings Limited provided earnings guidance for the year ended 31 December 2023. It is expected that the Group will record a loss attributable to owners of the Company of not more than RMB 1,900 million for the Year, as compared to the loss attributable to owners of the Company of approximately RMB 722 million for the year ended 31 December 2022. The expected increase in loss attributable to owners of the Company for the Year is mainly due to the impact of unfavourable market environment, the challenging operating conditions, as well as intensified competition in the real estate industry of mainland China during the Year, which led to (i) a downward trend in selling prices and gross profit of property projects delivered during the Year; and (ii) substantial increase in the impairment provided for certain property projects.