Pacific Online Limited provided earnings guidance for the year ended 31 December 2023. The Group expects to record a net loss attributable to equity holders in the range of approximately RMB 28 million to RMB 38 million for the year ended 31 December 2023 as compared to a net loss of approximately RMB6.7 million for the corresponding period in 2022. The Board considers that the expected loss was mainly attributable to (i) intensified advertising competition and changing marketing patterns in the automobile industry and (ii) increase of income tax expenses due to the additional tax loss in the year 2023 not being recognized as deferred tax assets during the year and this is a non-cash charge with no effect on cash flow.