Golden Eagle Retail Group Limited provided earnings guidance for the year ended December 31, 2022. For the year. the company expected that the net profit for the Period would decrease by no more than 54%, as compared with that of the corresponding period in 2021 of RMB 1,612 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 8% as a result of weakened consumer sentiment, decrease in customer foot traffic and temporary closure and/or shortened operating hours of some of the Group's stores due to the regional outbreak and resurgence of the COVID-19 pandemic during the year 2022; and (ii) a net foreign exchange loss of approximately RMB 567 million being recorded as compared to a net foreign exchange gain of approximately RMB 145 million for the corresponding period last year.