Reach New Holdings Limited provided earning guidance for the year ended 31 December 2023. The board of directors of the company informed the shareholders and potential investors of the company that, based on the currently available information, the company is expected to record a net loss for the year ended 31 December 2023 of no less than RMB 10.0 million when compared with the net loss of approximately RMB 6.7 million for the year ended 31 December 2022. Based on the Board's preliminary assessment of the unaudited consolidated management accounts of the Company and the information currently available to the Group, such increase in loss for FY2023 was principally attributable to the combined effect of (i) decrease in revenue during FY2023, which led to a decrease in gross profit, and (ii) increase in administrative expenses.