Sinofert Holdings Limited provided preliminary unaudited consolidated group earnings guidance for the year ended 31 December 2023. For the year, the group expects to record a profit attributable to owners of the Company to be between RMB 550 million and RMB 650 million, which represents a decrease as compared to the profit attributable to owners of the Company for the year ended 31 December 2022 of RMB 1,117 million. Based on the information currently available, the expected decrease is mainly attributable to the following reasons: provision for asset impairment loss for interests in an associate and provision for expected credit loss due to performance of guarantees obligations by Sinochem Fertilizer for its associate.