Tian Shan Development (Holding) Limited provided unaudited consolidated earnings guidance for the year ended 31 December 2019. The board of directors of the Company (the "Board") informed the shareholders of the Company (the "Shareholders") and potential investors that the Company is expected to record a net loss for the year ended 31 December 2019 as compared to a net profit for the year ended 31 December 2018. The Board considers that such expected net loss was primarily due to the fact that the profitability of certain property projects of the Group was not as good as the Company expected and that material non-recurring impairment loss was made in the current year in respect of these land and properties held for development or future development.