[Caihua News] Sun City Group (01383.HK) announced that the expected profit attributable to shareholders ranges from RMB 180 million to RMB 240 million, while the loss attributable to shareholders for the six months ended June 30, 2020 is RMB 119 million.

The novel coronavirus epidemic continues to have a negative impact on the Group's overall business, in particular the Group's income from tourism-related products and services, it decreased significantly from about 67.7 million yuan in the six months ended June 30, 2020 to about 26.9 million yuan in the six months ended June 30, 2021.

However, the expected profit attributable to shareholders for the six months ended June 30, 2021 is mainly due to: the income from the change in the fair value of the group's derivative financial instruments is about RMB 449 million; the gain from the sale of the entire equity stake in Tongda Co., Ltd. is about RMB 168 million, which is part of the reported profit of about RMB 147 million from discontinued business during the period. And the above items were partially offset by continuing business costs and expenses: (a) financing costs of approximately RMB123 million; and (b) share of a loss of approximately RMB140 million of a joint venture company.