Sino-Ocean Group Holding Limited provided group unaudited consolidated earnings guidance for the year ended 31 December 2023. For the year, the Group is expected to record a loss attributable to owners of the Company ranging between approximately RMB 20 billion and RMB 23 billion as compared to a loss attributable to owners of the Company of approximately RMB 19 billion (the expected restated figure) for the year ended 31 December 2022. Based on the information currently available, the expected loss was mainly attributable to the downturn in the overall real estate market in the People's Republic of China, resulting in the decrease in gross profit margin, and the increase in the provision for impairment of property projects; and the decrease in the share of results from joint ventures and associates for the Fiscal Year 2023.