Ganglong China Properties (06968.HK) is expected to incur a net loss of no more than RMB 90 million for the six months ended June 30, compared to a profit of approximately RMB 0.19 billion in the same period last year; and the total amount of losses and comprehensive expenses for the period will not exceed RMB 0.17 billion, while the total amount of profits and comprehensive income in the same period last year was approximately RMB 0.537 billion. The above changes are mainly due to the reduction in contract sales and confirmed sales revenue of properties, decrease in revenue from customer contracts, unfavorable market conditions, and increased impairment losses on properties under development, resulting in an overall decrease in gross margin.