CSMall Group Limited provided earnings guidance for the year ended 31 December 2023. The Group expects to record a net loss attributable to owners of the Company of RMB 25 million to RMB 40 million for financial year 2023, as compared to a net loss attributable to owners of the Company of approximately RMB 25.6 million for the year ended 31 December 2022 ("FY2022"). Such continued loss-making position is mainly attributable to the following factors: in respect of the Group's new jewellery retail segment, although the sales volume for FY2023 increased compared to FY2022, the increase was mainly attributable to the growth in sales of gold products, which had a lower gross profit margin compared to other jewellery products, thereby lowering the overall gross profit margin of the segment and resulting in a segment loss for financial year 2023; and in respect of the Group's fresh food retail segment, the "Nongmuren" S2B2C platform was still in a consolidation stage with a focus on optimizing its network of collaborative stores, diversifying its product offerings and adjusting its business strategies.

Besides, hog prices in Mainland China during FY2023 were generally lower than those during FY2022, which reduced shopkeepers' appetite for trade and thus the amount of hog transacted. For these reasons, the sales volume for FY2023 was significantly lower than that for FY2022, while the cost of sales and other related costs and expenses were also significantly reduced accordingly. Overall, given its status of development, the segment had not started to generate a net profit during FY2023.