Jy Gas Limited provided consolidated earnings guidance for the year ended 31 December 2023. For the period, the company expected that the Group would record a decrease in the net profit which is expected to fall within the range of approximately RMB 24 million to RMB 28 million, as compared to the net profit of RMB 52.0 million for the year ended 31 December 2022. The decrease was mainly due to the following reasons: (i) a decrease in gross profit of within the range of approximately RMB 33 million to RMB 38 million as a result of (a) lower natural gas usage by industrial PNG end-users due to an economic slowdown coupled with increase in procurement cost of PNG; and (b) a decrease in revenue from provision of construction and installation services and sale of gas-burning appliances, which was caused by a decrease in property development and construction works as affected by the general properties market downturn in the PRC; and (ii) the payment of fines, penalties and compensations in relation to the Incident.