Jia Yao Holdings Limited provided earnings guidance for the year ended December 31, 2022. For the period, the Group is expected to record a net profit after tax in the range of approximately RMB 9.0 million to RMB 12.0 million for the year ended 31 December 2022 as compared to the net loss after tax of approximately RMB 29.6 million for the year ended 31 December 2021. The aforesaid increase in net profit after tax is mainly due to (i) the prominent contribution to the group's gross profit made by the electronic cigarettes segment, which was achieved rapid growth rate and higher profit margin during the year ended 31 December 2022; (ii) decrease in finance costs because of decrease in bank borrowings during the year ended 31 December 2022; and (iii) the decrease in cost of major raw materials for production during the year ended 31 December 2022.