China Sandi Holdings Limited provided consolidated earnings guidance for the year ended 31 December 2023. For the year, the company expects to record a loss of approximately RMB 199 million for the year ended 31 December 2023 as compared to a profit of approximately RMB 14 million for the year ended 31 December 2022. Such expected drop was mainly attributable to (i) the decrease in gross profit margin on property sales and investment properties leases as the results of continued unfavourable macro environment and downturn in the real estate industry in the People's Republic of China (the "PRC"), which in turn affected the revenue of the Group from property sales for the year ended 31 December 2023; and (ii) the fair value loss on investment properties of approximately RMB 395 million recorded during the year ended 31 December 2023 as a result of the macro-control measures on industry and the continued decline in the market environment of the real estate industry in the PRC.