Scholar Education Group provided earnings guidance for the year ended 31 December 2023. The board of directors of the company informed the shareholders of the Company and potential investors that, based on the preliminary review and analysis on the consolidated management accounts of the Group for the year ended 31 December 2023 and other information currently available to the Board, the Group expects to record a net profit of not less than RMB 80.0 million, which is an increase of not less than 47.0% as compared to a net profit of RMB 54.4 million for the year ended 31 December 2022 (the ``Last Year''). The Board would also highlight that the expected net profit for the year ended 31 December 2023 has factored in share option benefit expenses of approximately RMB 8.0 million (Last Year: nil) and net loss from the live commerce business of RMB 12.0 million (Last Year: nil), and no significant expenses are expected to be incurred in 2024 as the live commerce business was ceased by the end of 2023.

Excluding the share option benefit expenses and net loss from the live commerce business, the Group expects to record an adjusted net profit (1) of no less than RMB 100.0 million, which is an approximately 83.8% increase as compared to the adjusted net profit of RMB 54.4 million Last Year.