Shui On Land Limited provided earnings guidance for the year ended 31 December 2020. The board of directors of the company announced that, based on the information currently available to the company, it is expected to record a net loss for the year ended 31 December 2020 due to the following reasons, including but not limited to: a) An approximately 4% decline in the fair value of the Group's investment properties and other property assets when compared with the book value of investment properties and other property assets at 31 December 2019, of which a total of RMB 2.0 billion was recorded during the first half of 2020. As a reference, the book value of the Group's investment properties and other property assets totaled RMB 52.1 billion as of 31 December b) Lower revenue and profit recognized from property sales, partly due to the delay in construction and handover of residential units to buyers during the COVID-19 outbreak in the first half of 2020. Based on currently available information, the Company estimates that Loss Attributable to Shareholders for the year ended 31 December 2020 will not exceed RMB 0.8 billion.