Talent Property Group Limited provided preliminary unaudited consolidated group earnings guidance for the six months ended 30 June 2023. For the period, the group expects to record a reduction of loss attributable to shareholders to approximately RMB 40.0 million as compared to the loss for the six months period ended 30 June 2022 (the Preceding Period) of approximately RMB 87.7 million. Based on the information currently available, the Board considers such expected reduction in loss was primarily attributable to the following: revenue and gross profit of not less than RMB 400 million and RMB 80 million, respectively, are expected to be recorded in the Reporting Period as compared to RMB 137.0 million and RMB 53.9 million, respectively, in the Preceding Period.

It is primary due to revenue recognition upon delivery of pre-sold units of the company's Xuzhou project commenced during the Reporting Period; reduction of administrative and other operating expenses as a result of cautious cost control and no more provision for compensation for late delivery of presold properties units is required in the Reporting Period; and fair value deficit on investment properties and provision for impairment loss on properties under development and held for sales are at similar level as to the Preceding Period.