Haina Intelligent Equipment International Holdings Limited provided consolidated earnings guidance for the year ended December 31, 2023. For the year, the Group is expected to record a net loss of not more than RMB 40.0 million for the year ended 31 December 2023 as compared with the net loss of approximately RMB 3.2 million for the year ended 31 December 2022. The Board is of the view that the expected loss is mainly due to a decrease in revenue from sales of adult diaper machines and baby diaper machines caused by reduction in selling prices as a result of fierce competition faced by the Group within the disposable hygiene product machinery industry in the People's Republic of China; a decrease in the Group's gross profit margin for the year ended 31 December 2023 compared to the same period last year, primarily caused by general increase in labour cost and increase in price of parts imported from overseas as a result of previous restrictions in customs policy; and provision for impairment loss on unlisted debt instrument and other receivables.