China Renaissance Holdings Limited provided consolidated earnings guidance for the six months ended June 30, 2022. For the six months, Group expects to record a loss for the period attributable to owners of the Company of approximately RMB 154 million for the six months ended June 30, 2022, as compared to a profit attributable to owners of the Company of approximately RMB 1,228 million for the corresponding period in 2021. Such loss of the Group for the six months ended June 30, 2022 is mainly attributable to: the market volume of Initial Public Offerings (IPOs) for new economy businesses in Hong Kong and the United States for the first half year of 2022 shrank significantly comparing to the corresponding period in 2021, resulting in lower underwriting income to the Group; China Renaissance Securities (China) Co.

Ltd. reported a net loss for the six months ended June 30, 2022 mainly due to a) negative investment income from principal investment and co-investments in previously underwritten IPO projects on Science and Technology Innovation Board, affected by A share volatilities; b) continued investment cost into innovative brokerage business; c) investment banking income realization was slower than expected due to policy and market environment; the six months ended June 30, 2022 witnessed extreme volatilities in secondary markets, and although the Group actively managed their public market positions of investment portfolios, they were inevitably affected.