Comtec Solar Systems Group Limited provided consolidated earnings guidance for the six months ended June 30, 2023. Based on the preliminary assessment of the information currently available to the Company and the unaudited consolidated management accounts of the Group for the six month ended 30 June 2023, the Group's financial performance is expected to turnaround and recorded an unaudited profit attributable to the owners of the Company of no less than RMB 40,000,000 for the 2023 Interim Period as compared to the net loss attributable to owners of the Company of RMB 12,233,000 for the six months ended 30 June 2022. Such turnaround in the Group's financial performance was primarily attributed to the net gain on the disposal of investment properties in Shanghai (the "Disposal") of approximately RMB68 million recognized during the 2023 Interim Period.

Details of the Disposal were disclosed in the announcement and circular of the Company dated 1 June 2022 and 30 December 2022 respectively.