C&D Newin Paper & Pulp Corporation Limited provided earnings guidance for the six months ended September 30, 2022. For the six months, the company expected to record (i) a revenue of approximately HKD 722 million for the Period, representing an increase of approximately 169% as compared to that of the six months ended 30 September 2021; and (ii) a net loss ranging from approximately HKD 65 million to HKD 75 million for the Period, as compared to the net profit of approximately HKD 165 million for the six months ended 30 September 2021. Such net loss for the Period was mainly attributable to the following factors: (i) absence of net gain from one-off restructuring matter for the six months ended 30 September 2021, including (1) the one-off gain on re-consolidation of a deconsolidated paper manufacturing subsidiary of the Company of approximately HKD 451 million; and (2) the one-off loss for the period from discontinued operations of approximately HKD 272 million; (ii) the frequent sporadic outbreak of COVID-19 in China, which resulted in insufficient domestic market demand and decreased price of wrapping paper products as compared to the corresponding period in the previous year; (iii) the increase in prices of wood pulps and other raw materials as well as energy imposed pressure on the production cost control, which resulted in a squeeze in gross margin; and (iv) the sporadic outbreak of COVID-19, which caused extended overhaul and downtime of production equipments as compared with schedule, affecting production in the short term.