361 Degrees International Limited provided unaudited consolidated earnings guidance for the six months ended 30 June 2023. For the period, the company is expected to increase by not less than 25% as compared with the profit attributable to the equity shareholders of the Company for the six months ended 30 June 2022. The improvement in the performance of the Group was mainly attributable to (i) the steady increase of revenue due to the recovery of the market situation since the PRC government has adjusted its pandemic preventive measures in early 2023, as well as the continuous improvement of innovation of the Group, and the launch of more new products with high functionality and premium; (ii) strengthening of credit management on the Group's distributors which led to a reduction of the aggregate provision for expected credit losses on trade receivables made in previous years; (iii) government grants received by the Company; and (iv) the increase in equity interest in a subsidiary which is engaged in the e-commerce business.