Powerlong Real Estate Holdings Limited provided earnings guidance for the six months ended June 30, 2023. For the period, the company expects profit to be within the range of approximately RMB 200 million to RMB 400 million (for the six months ended 30 June 2022: approximately RMB 1,213 million), and the core earnings attributable to the owners of the Company is expected to be within the range of approximately RMB 1,100 million to RMB 1,300 million (for the six months ended 30 June 2022: approximately RMB 1,691 million). The expected decrease is mainly attributable to the following: (1) as a result of the continuous impact of the severe operating environment in the real estate industry: (i) there was a decrease in revenue and profit recognised from the sales of properties due to the decline in delivery during the period; (ii) the provision of impairment for property projects based on the principle of prudence; (iii) the decrease in fair value of investment properties; and (2) the expected net foreign exchange losses due to foreign exchange fluctuations.