Kaisa Prosperity Holdings Limited provided earnings guidance for the year ended 31 December 2023. The group expected a net loss of not more than approximately RMB500 million for the year ended 31 December 2023 as compared to a net profit of approximately RMB 106.6 million for the year ended 31 December 2022. The Company considers that the decrease is mainly attributable to the continued weakness and uncertainty of the real estate industry in the Mainland resulting in (i) a decline in the revenue of the Group's pre-delivery and consulting services; and (ii) an increase in the
provision of impairment for trade receivables from related parties based on the principle of prudence, as compared to the year ended 31 December 2022.