Shanghai Zendai Property Limited provided Group earnings guidance for the six months ended 30 June 2023. The board (the "Board") of directors (the "Directors") of the Company informed shareholders and investors of the Company that the Group is expected to record a reduction of loss attributable to owners of the Company for the six months ended 30 June 2023 (the "Reporting Period") as compared to the loss attributable to owners of the Company for the six months ended 30 June 2022 (the "Prior Reporting Period"). Based on the preliminary review of the management accounts of the Group and information currently available to the Company, the anticipated decrease in loss attributable to owners of the Company for the Reporting Period is mainly attributable to (i) a decrease in administration expenses and selling and marketing expenses of approximately 50% and 35% respectively as compared to the Prior Reporting Period; and (ii) a reduction in finance costs of approximately 25% during the Reporting Period as compared to the Prior Reporting Period.

As a result, the loss attributable to owners of the Company for the Reporting Period is expected to reduce by approximately 50% as compared to the loss attributable to owners of the Company for the Prior Reporting Period.