Chervon Holdings Limited Provided consolidated earnings guidance for the year ended December 31, 2023. For the period, the company expects to record a net loss in the range of approximately USD 35 million to USD 40 million, a compared to a net profit of approximately USD 139 million recorded for the year ended December 31, 2022. Such expected decrease in the net profit during the Reporting Period is primarily due to: (i) a decline in revenue caused by more conservative inventory policies adopted by the Group's key customers facing macroeconomic uncertainties; (ii) the Group's continued investments in research and product development and the sales channel infrastructure; (iii) additional provision for write-down of inventories and warranty; and (iv) the share of loss of an associate of the Group.