Times Neighborhood Holdings Limited provided earnings guidance for the year ended 31 December 2022. The Company expected to record an unaudited loss attributable to the owners of the Company for the Year of not more than RMB 230 million, as compared to the profit attributable to the owners of the Company in the amount of approximately RMB 308 million for the year ended 31 December 2021. Such loss was primarily attributable to the impairment provision made by the Group on assets, an increase in operation costs, a slowdown in business activities under COVID-19 prevention measures and an adjustment in business scale to deal with market changes, which were affected by various factors including the downturn of the real estate industry in China, the recurrence of the COVID-19 pandemic and the slowdown in macroeconomic growth during the Year.