Xinming China Holdings Limited provided earnings guidance for the six months ended 30 June 2021. For the year, the company is expected to record a significant increase in loss attributable to owners of the company by approximately RMB300 million as compared to a loss of approximately RMB 71.6 million for the corresponding period in 2020, representing an increase of approximately 320%. The expected loss is mainly attributable to the increase in other expenses, representing provisions for relevant interest penalty and penalty charged on loan default payment of approximately RMB 207.0 million pursuant to the certain in default borrowings during the Period, the decrease in sales by approximately RMB65.2 million as a result of the weakened demand in property market compared to that of the corresponding period in 2020 due to the outbreak of COVID-19; and (3) the impairment of certain properties under development of approximately RMB 65.4 million.