Chen Lin Education Group Holdings Limited provided earnings guidance for the six months ended 28 February 2023. The Group expects to record unaudited net profit for the period within a range of approximately RMB 20 million to approximately RMB 22 million for the Current Interim Period, as compared with the unaudited net loss for the period of approximately RMB 36 million for the six months ended 28 February 2022. The unaudited net profit for the period for the Current Interim Period was mainly attributable to (i) a decrease in other losses net by approximately RMB 37 million as the loss on fair value through profit or loss on financial assets in relation to the Group's investment in the shares of Sinic Holdings (Group)
Company Limited was fully provided for impairment in the previous reporting period due to the suspension of trading of Sinic Holdings's shares on 20 September 2021 and its subsequent delist from the Stock Exchange on 13 April 2023 under Rule 6.01A(1) of the Listing Rules; and (ii) an increase in revenue by approximately RMB 34 million due to the growth in the number of enrolled students.