Redsun Properties Group Limited provided consolidated earnings guidance for the year ended December 31, 2023. For the period, the Group is expected to record net loss during the Year in the
range of approximately RMB 7,500 million to RMB 8,500 million (the corresponding period in 2022: net loss of RMB 3,938 million). The net loss for the Year was mainly attributable to the facts that the market has yet to be
recovered, the size of the real estate industry continued to decline, and the revenue and gross profit generated by the Group's real estate projects decreased year-on-year; based on the sales throughout the year and the management's expectation of the selling price, the Group and some associates and joint ventures of the Group made further provisions for the impairment losses of properties under development and completed properties held for sale; fair value loss on part of the investment properties held by the Group; and the decline in the exchange rate of Renminbi against United States dollar resulted in an increase of exchange loss.