The board of directors of the Company (the “Board”) hereby announces that the profit attributable to owners of the Company (excluding gains or losses from changes in fair value of investment properties) for the six months ended 30 June 2023 (the “Relevant Period”) is estimated to record a turnaround from loss to profit, details of which are set out as follows:

I. ESTIMATED RESULTS FOR THE RELEVANT PERIOD (IN ACCORDANCE WITH THE HONG KONG FINANCIAL REPORTING STANDARDS)
    1. Relevant Period for the results estimation: from 1 January 2023 to 30 June 2023
    2. Estimated profit:
    Based on the preliminary assessment by the Company’s finance department:
    (i) Profit attributable to owners of the Company (excluding gains or losses from changes in fair value of investment properties) for the first half of 2023 is estimated to range from RMB108,000,000 to RMB112,000,000, as compared with the corresponding period of the preceding year, recording a turnaround from loss to profit.
    (ii) Profit (excluding gains or losses from changes in fair value of investment properties and after deduction of non-recurring profit and loss) attributable to owners of the Company for the first half of 2023 is estimated to range from RMB43,000,000 to RMB59,000,000, as compared with the corresponding period of the preceding year, recording a turnaround from loss to profit.
    (iii) The estimated cash balance at the end of the period is approximately RMB11.4 billion. The Company has sufficient reserve funding with clear financing channels for dependable operation.