Times China Holdings Limited provided earnings guidance for the financial year ended 31 December 2022. For the year, the Group expects that there will be a net loss attributable to the owners of the Company between approximately RMB 8 billion and RMB 10 billion. The net loss attributable to the owners the Company for the financial year ended December 31, 2022 was primarily attributable to (1) the decrease in gross profit margin of projects recognized due to weak real estate market throughout the year; (2) the decrease in the area of properties delivered, revenue recognized from property development and urban redevelopment business due to the slowdown of construction progress caused by the COVID-19 pandemic; and (3) the increase in impairment on property projects and other assets.