China New City Commercial Development Limited provided consolidated earnings guidance for the year ended December 31, 2021. For the period, the group expects to record an increase in each of revenue and gross profit for by approximately RMB 170.7 million and approximately RMB 46.3 million respectively as compared to the year ended December 31, 2020 as a result of the sales growth of completed commercial real estate development projects as part of the Group ' s core business, an unaudited consolidated net loss of approximately RMB 300.0 million of the Group for the 2021 Year is expected to be recorded as compared to the audited consolidated net profit of approximately RMB 25.1 million of the Group in the 2020 Year, which was primarily attributable to the fact that the Group recorded an audited fair value gain upon transfer to investment properties in the amount of approximately RMB356.8 million for the 2020 Year which was not available in the 2021 Year.