Gelonghui, March 19 | China Sandi (00910.HK) announced that the company expects to record a loss of approximately RMB 199,000,000 for the year ended December 31, 2023, while a profit of approximately RMB 14,000,000 was recorded in the previous year.

The decline in expectations is mainly due to (i) the decline in gross margin of property sales and investment property leasing due to China's continuing unfavorable macroeconomic environment and the downturn in the real estate industry, which affected the Group's property sales revenue for the year; and (ii) the fair value loss of investment properties recorded in the year was approximately RMB 395,000,000, which was due to the industry's macro-control measures and the continued decline in the market environment of China's real estate industry.