China Oriented International Holdings Limited provided unaudited consolidated earnings guidance for the year ended 31 December 2023. for the year, the Group is expected to record a net loss of the range from approximately RMB 7.0 million to approximately RMB 8.5 million, as compared to a net loss of approximately RMB 8.7 million for the year ended 31 December 2022. The Board believes that the primary reasons for abovementioned reduction in loss are as follows: (I) decrease in revenue from the Group's driving training service business for both Large Vehicles and Small Vehicles as a result of (i) the impact of overall decrease in the average course fees per hour of driving courses for both Large Vehicles and Small Vehicles; and (ii) overall decrease in each of the number of trainees who attended its driving courses and the actual number of training hours for both Large Vehicles and Small Vehicles provided by the Group during the year ended 31 December 2023 due to the decrease in the demand for driving courses, which had a significant impact on the number of course enrollments of Large Vehicles especially, due to the continuing deterioration of the market conditions of the logistic industry as a result of the continuous US-China trade tensions; (II) overall decrease in gross profit and gross profit margin from the Group 's driving training service business which was mainly attributable to the abovementioned overall decrease in the average course fees per hour and in each of the number of trainees who attended driving courses and the actual number of training hours and the fixed depreciation charges of training field and training motor vehicles and the amortisation charges of right-of-use assets despite the increase in gross profit margin for driving courses of Small Vehicles due to the increased revenue contributed from the forfeiture of course fees upon expiry of the time limit for attending driving courses; but (III) the abovementioned decrease was partially offset by the decrease in selling and marketing expenses and administrative expenses for the year ended 31 December 2023 as compared to that of the year ended 31 December 2022 due to the decrease in sales and marketing and promotion activities and the decrease in employees benefit expenses for administrative staff during the year ended 31 December 2023, respectively.