Litian Pictures Holdings Limited provided consolidated earning guidance for the six months ended 30 June 2023. The board of directors informed the shareholders of the Company (the "Shareholders") and potential investors that, based on a preliminary assessment of the Group's unaudited consolidated management accounts for the six months ended 30 June 2023 and information currently available to the Board, the Group is expected to record a net loss ranging between RMB 55.0 million and RMB 60.0 million for the six months ended 30 June 2023, as compared to a net loss of approximately RMB 13.3 million for the six months ended 30 June 2022. The Board considers that such expected loss was mainly due to the decrease in revenue from the licensing of the broadcasting rights of self-produced drama series for the six months ended 30 June 2023 resulted from the challenging market conditions and macroeconomic
environment.