Gelonghui announced on March 29th that the company expects to record a net profit attributable to the company's owners of approximately RMB 9 million to RMB 13 million in the year ended December 31, 2021, which is significantly lower than the net profit attributable to the owners of the company of about RMB 98.9 million in the previous year.

The expected decrease is mainly due to the significant decline in the Group's property development business income and gross profit during the year, due to the decrease in the number of properties available for sale and delivery to customers and the fact that most of the Group's real estate projects are still under construction.