Guangzhou R&F Properties Co., Ltd. provided group earnings guidance for the year ended 31 December 2021. The Board informed the Shareholders and potential investors of the Company that, based on the Company's discussion with its auditor and subject to completion of audit, the Company expects to further recognize an impairment loss in the amount of approximately RMB 6.9 billion for the year ended 31 December 2021 in additional to the initial assessment of RMB 6.1 billion as stated in the 2021 Unaudited Annual Results, which is attributable to an additional impairment provision for the inventory of the Group as at 31 December 2021 that was not fully accounted for. After taking into account the Impairment Provision for Inventory, the Group expects to record a net loss of not more than RMB 17 billion for the year ended 31 December 2021.