The board of directors of JiaXing Gas Group Co., Ltd. announced that, based on the information about the Group currently available to the Company, the Group expects that the profit attributable to the Shareholders of the Group for the year ended 31 December 2023 will record an increase of approximately 217%-308% as compared with the year ended 31 December 2022, increasing from RMB 69,344,000 in 2022 to the expected amount of approximately RMB 220,000,000 to RMB 283,000,000 in 2023. The Board considers that the expected increase in the profit attributable to the Shareholders in 2023 is mainly due to the expansion of the scale of business of sale of liquefied natural gas of Zhejiang Hangjiaxin Clean Energy Co., Ltd. Benefiting from the increasing selling price of liquefied natural gas in the international market, and the relatively low purchase price under the long-term liquefied natural gas procurement agreement between Hangjiaxin and its supplier, coupled with the growth in sales volume owing to the business expansion, Hangjiaxin is expected to record a significant increase in gross profit in 2023.