Qingci Games Inc. provided earnings guidance for the year ended December 31, 2021. The expected to record a decrease in net profit of not less than 400%, from net profit of approximately RMB 103.7 million for the year ended December 31, 2020 to a net loss in the range of approximately RMB 350 million to RMB 375 million for the year ended December 31, 2021, which was mainly attributable to changes in fair value of convertible redeemable preference shares; and loss from financial instruments issued to investors. The above items combined amounted to approximately RMB 745 million.