According to the Zhitong Finance App, Ruiwei Asset Management (01835) announced that the Group expects a net loss of no more than RMB 30 million in the six months ending June 30, 2023, while the net loss for the six months ending June 30, 2022 will be approximately RMB 10.7 million.

The Group expects an increase in net losses during this period mainly due to the severe situation in the real estate industry, market confidence has not been fully restored, the Group's real estate fund management business has slowed down during this period, resulting in a decrease in management fee income obtained compared to the same period last year; and the company's losses on investments in joint ventures or joint ventures that include profit and loss at fair value due to the transfer of fund shares.