China Hongqiao Group Limited provides earnings guidance for the year ended 31 December 2022. For the year, the net profit of the Group for the year ended 31 December 2022 (the "Year") is expected to decrease by approximately 40% as compared to that of the corresponding period in 2021. The main reasons are as below: while the unit sales price of the Group's aluminium products increased in 2022 as compared with that of 2021 and sales revenue increased year-on-year, the extent of increase in the purchase prices of the Group's major raw materials was greater than that of the unit sales price of the Group's aluminium products, which resulted in a decrease in the Group's gross profit per tonne of aluminium during the Year, leading to a significant decrease in gross profit as compared with the corresponding period in 2021; and during the Year, due to the significant depreciation of RMB, the Group made provision for a large exchange loss compared to an exchange gain for the corresponding period in 2021, resulting in a decrease in the Group's profit for the period.