New Century Healthcare Holding Co. provided consolidated earnings guidance for the year ended 31 December 2022. for the year, the Group is expected to record a loss before tax of approximately RMB 270 million to RMB 340 million for the year ended 31 December 2022 as compared with the loss before tax of approximately RMB 59.1 million recorded for the corresponding period in 2021.

The expected increase of the loss before tax of the Group was primarily due to the impact of COVID-19 in 2022 in view of the higher transmissibility of the Omicron variant, which led to (i) the reduction in demand for medical treatment and services; (ii) the expected credit losses related with certain financial assets; and (iii) the impairment loss on certain goodwill and other non-current assets.