Suoxinda Holdings Limited provided earnings guidance for the six months ended 30 June 2023. The company expects a net loss attributable to owners of the Company of not less than RMB 60 million is expected to be recorded for the Period, as compared to the net loss of approximately RMB 32 million recorded for the corresponding period in 2022. Based on the information currently available, the expected net loss for the Period is mainly attributable to the combined effects of, among others, the following: (i) under the impact of the global economic downturn, different financial institutions have adjusted the operational strategies with tightened IT and marketing budgets, and in the meantime the market competition has become intensified, leading to a decrease in project gross profit; (ii) impairment of property and equipment, intangible assets and right-of-use assets as a result of adjustments to the business strategies; and (iii) provision for impairment of financial and contract assets.