Zhenro Properties Group Limited provided earning guidance for the year ended 31 December 2022. The board of directors of the Company informed its shareholders and potential investors that, based on a preliminary assessment of the unaudited management accounts of the Group for the year ended 31 December 2022 (``Year 2022'') and other information currently available, it is expected that, the Group will record a loss attributable to owners of the parent of approximately RMB 12,500.0 million to approximately RMB 13,500.0 million (profit attributable to owners of the parent for the year ended 31 December 2021 (``Year 2021''): RMB 809.0 million) and a core loss (representing the net loss excluding impacts from non-cash nature items such as impairment loss, fair value changes and exchange gain or loss) of approximately RMB 3,000.0 million to approximately RMB 4,000.0 million (core profit for Year 2021: RMB 2,284.1 million) in Year 2022. Such loss attributable to owners of the parent was primarily attributable to the following factors: (1) in light of the impact of the continuous COVID-19 pandemic in 2022, the decline in the overall demand of the real estate sector in the People's Republic of China and the continuous tightening of the financing markets, (i) as compared to Year 2021, the gross profit margin decreased and the impairment provision for assets increased due to the lower selling prices of the projects; (ii) the revenue recognition was lower than expected; and (iii) the fair value of investment properties decreased; (2) the gain on disposal of subsidiaries and interest income decreased; (3) the finance costs increased; and (4) an exchange loss was recorded.