China Saftower International Holding Group Limited provided unaudited consolidated earnings guidance for the year ended 31 December 2023. The group is expected to record a net loss not less than RMB 56.0 million for fiscal year of 2023, the net loss was mainly attributable to the increase of impairment losses on trade and other receivables of approximately RMB 9.5 million, impairment losses on property, plant and equipment of approximately RMB 6.9 million, loss on disposal of PPE of approximately RMB 16.5 million and allowance for expected credit loss on trade receivables of approximately RMB 9.4 million during Fiscal Year 2023 comparing to fiscal year of 2022.