China Shuifa Singyes Energy Holdings Limited provided unaudited consolidated earnings guidance for the year ended 31 December 2023. For the period, the company it is estimated that the Group will record a consolidated net profit for the year around RMB 10.7 million, as compared to the consolidated net profit for the year of approximately RMB 21.1 million (before restated) for the year ended 31 December 2022. The Board considers that the decrease in profit for the year ended 31 December 2023 was mainly attributable to the slow recovery of the overall business sentiment, trade receivables due from certain customers became overdue.

Accordingly, the Group intended to make a provision for impairment losses of trade receivables for the Year.