CM Hi-Tech Cleanroom Limited provided earnings guidance for the year ended 31 December 2023. The Group is anticipated to record an unaudited consolidated net profit attributable to owners of the Company of approximately RMB 51 million to RMB 55 million. This represents a decline of around 27% to 32% compared to the audited consolidated profit attributable to owners of the Company of approximately RMB 75 million for the year ended
31 December 2022. The Board considers that the decline in profit was primarily attributable to the decrease in revenue of the Group which was mainly due to (1) the impact of US- China trade tensions affecting investments and construction progress for the semiconductor facilities located in the People's Republic of China (``PRC''); and (2) an uncertain investment climate, particularly in the semiconductor industry, created by economic uncertainties, coupled with weak demand for end-making electronics, elevated inventory levels and weaker prices of microchips, directly impacting the demand for cleanroom products, particularly in the PRC market.