Infinity Logistics and Transport Ventures Limited provided consolidated earnings guidance for the year ended December 31, 2023. For the year ended 31 December 2023, the profit attributable to owners of the Company for the Year is expected to decrease by approximately 45% to 55%, as compared to the profit attributable to owners of the Company of approximately RMB 36.0 million for the year ended 31 December 2022. The expected decrease in profit attributable to owners of the Company was mainly attributable to a decrease in gross profit and gross profit margin of the Group for the Year caused by an increase in cost of services and goods sold, in particular depreciation and staff costs, although the Group recorded a modest increase in its revenue compared to the previous year; and an increase in income tax expenses due to expiry of certain tax incentives offered by the Malaysian Investment Development Authority and an increase in deferred tax liability during the Year.