Zibuyu Group Limited provided consolidated earnings guidance for the six months ended June 30, 2023. For the six months, the Group expects the net profit for the six months ended June 30, 2023 would amount to approximately RMB 9.2 million to RMB 12.3 million, representing a decrease of approximately 80% to 85% from approximately RMB 61.3 million for the six months ended June 30, 2022. The Board is of the view that the expected decrease in net profit for the Reporting Period, when compared with the Previous Period, was mainly due to the combined effects of the followings: (i) the increase in provision for write-down of inventories and the warehousing expenses: the increase in provision for write-down of loss of inventories made by the Company based on its assessment of various factors (including product life cycle, sales performance, inventory age and the third party e-commence platform (the ``Platform'') charges) and also the increase in warehousing expenses charged by the Platform; (ii) the increase in employee benefit expenses: the increase in employee benefit expenses caused by further expansion of talent structure, increased headcount of IT technicians and the expansion of talent reserves for future business expansion according to the Company's strategic development needs during the Reporting Period; and (iii) the increase in return rate: the increase in return-related charges charged by the Platform as a result of the increase in the Company's total return rate of sales through the Platform due to more customers' conservative consumption caused by the persistent inflation and continuous rate hikes in the United States during the Reporting Period, which has weakened the spending power of the Company's customers in the North American market and also transformed the purchasing habits of customers.