Huazhong In-Vehicle Holdings Company Limited provided earning guidance for the six months ended 30 June 2023. The board of directors of the Company informed the shareholders of the Company (the "Shareholders") and potential investors that, based on a preliminary assessment of the latest available unaudited consolidated management accounts of the Group for the six months ended 30 June 2023, the Group is expected to record a decrease in profit attributable to the owners of the parent by approximately 43% as compared to the profit attributable to the owners of the parent for the six months ended 30 June 2022. Based on the information available to the Board, the Board considers such expected decrease was mainly attributable to 1. an increase in research, development and management expenses.

2. a decrease in gain on bargain purchase.