Sino-Ocean Service Holding Limited provided preliminary unaudited consolidated group earnings guidance for the year ended 31 December 2022. For the year, the group expects to record a profit attributable to owners of the Company of approximately RMB 75.4 million, as compared to a profit attributable to owners of the Company of approximately RMB 439.0 million for the year ended 31 December 2021. Revenue to be RMB 3,269.905 million.

Profit to be RMB 78.793 million. Profit and total comprehensive income to be RMB 78.793 million. Based on the information currently available, the expected decrease in profit attributable to owners of the Company was mainly attributable to a significant increase in the impairment provision for amount due from related parties expected to be made by adopting a conservative approach taking into account the downturn in the overall real estate market in the People's Republic of China (the PRC); and a decrease in overall gross profit margin for the fiscal year 2022, which was primarily due to a decrease in revenue generated from community value-added services (the gross profit margin of which is generally comparatively higher than other services provided by the Group) for the fiscal year 2022 as a result of the continuous COVID-19 pandemic in the PRC during the fiscal year 2022.