Green Future Food Hydrocolloid Marine Science Company Limited provided unaudited consolidated earnings guidance for the year ended December 31, 2023. for the year, the company is expected to record a net loss attributable to owners of the Company in the amount between RMB 75.0 million and RMB 95.0 million for FY2023, as compared to the net profit attributable to owners of the Company of RMB 200.0 million (equivalent to HKD 232.1 million) for the year ended 31 December 2022. Such deterioration in the performance of the Group was primarily due to the following factors: (1) material decrease in the selling price of one of the Group's major products which attributed to the decrease in both revenue and gross profit for FY2023; (2) significant increase of approximately RMB 140.0 million in the amount of provision for inventory of semi-finished and finished products of the Group as of 31 December 2023; and (3) deferred taxation adjustment in relation to the provision for inventory as referred to in (2) above which partly offset the Net Loss.