Zhenro Services Group Limited provided earnings guidance for the year ended 31 December 2022. For the year, it is expected that the Group will record a loss attributable to owners of the parent of not more than RMB 300 million for the year ended 31 December 2022, as compared to a profit attributable to owners of the parent of approximately RMB 175 million for the year ended 31 December 2021. Under the impact of the market
environment for real estate industry, the expected deterioration in results is mainly attributable to (1) the decline of credit rating for real estate companies, and increase of loss allowance for impairment of receivables, (2) the decreased demand for services by property developers, resulting
in a decrease in revenue of value-added services to non-property owners, and (3) the impairment of goodwill arising from some acquisition/merger companies of the Group.