Golden Eagle Retail Group Limited provided consolidated earnings guidance for the six months ended June 30, 2022. For the six months, the company expected that the net profit for the period would decrease by no more than 50%, as compared with that of the corresponding period in 2021 of RMB 885.0 million. The expected decrease in net profit is primarily attributable to (i) a decrease in the Group's retail profit from operations before depreciation and amortisation by no more than 10% as a result of weakened consumer sentiment, decrease in customer foot traffic and the temporary closure and/or shortened operating hours of some of the Group's stores due to prolonged travel restrictions and preventions and control measures of the China government to contain the spread of the new COVID-19 variant; and (ii) a net foreign exchange loss of approximately RMB 315 million being recorded as compared to a net foreign exchange gain of approximately RMB 59 million for the corresponding period last year.