Greentown Service Group Co. Ltd. provided unaudited consolidated earnings guidance for the year ended 31 December 2022. For the year, the Group expected revenue of the Company will increase by approximately 18% (the revenue for 2021 was RMB 12,566.1 million, representing a year-on-year increase of 24.3% compared with that for the year of 2020), and core operating profit and the unaudited profit attributable to shareholders of the Company for the Relevant Period will decrease by approximately 5% to 10% and 30% to 40%, respectively, as compared to that for the corresponding period in 2021.

The decrease was primarily due to an increase in the impairment losses on trade and other receivables and in the impairment of financial instruments, which were arrived at based on prudent consideration; the general atmosphere of the real estate industry in the PRC and the repeated outbreaks of the COVID-19 epidemic, leading to a decrease in the Company's revenue and an increase in cost of sales.