Xiwang Property Holdings Company Limited provides earnings guidance for the year ended 31 December 2023. For the period, the Group is expected to record a consolidated net loss before tax of approximately RMB 152.0 million to RMB 161.5 million during FY2023, whereas the consolidated net loss before tax was approximately RMB 8.2 million during the year ended 31 December 2022. This is mainly attributable to the impairment losses recognised in respect of goodwill and written off of prepayment of Qinghe Project, a real estate development project for the construction of residential units located in Zouping City, Shandong Province, which are expected to amount to approximately RMB 150.4 million in FY2023, whereas impairment loss in respect of goodwill amounted to approximately RMB 2.0 million in FY2022.