Abundance International Limited provided group earnings guidance for the half year ended June 30, 2023. For the half year, the group expects to report a profit after tax, it is expected to be lower than the PAT reported for the half year period ended 30 June 2022 of approximately USD 980,000. This is mainly attributable to the following reasons: (a) the fall in demand and average selling price of chemical products traded by the Company's wholly-owned subsidiary, Orient-Salt Chemicals Pte.

Ltd., and its subsidiaries in the People's Republic of China and Japan (collectively the "OSC Group") leading to a lower profit margin generated by OSC Group in HY2023; and (b) expenses such as write-down of inventories, provision for expected loss allowances, foreign currency exchange loss, offset by gains on disposal of a subsidiary.