Shandong Fengxiang Co., Lt provided consolidated earnings guidance for the six months ended 30 June 2023. For the six months, the group is expected to record a net profit of approximately RMB 80 million as compared to the net loss of approximately RMB 71 million for the six months ended 30 June 2022. The board of directors of the Company believes that the expected turnaround in profit in the first half of 2023 was mainly attributable to (i) the Group's continuous improvement in its operational efficiency, resulting in a decrease in breeding costs and sales and marketing expenses; (ii) the Group's further deepening of its channels penetration, leading to a relatively substantial growth in sales revenue from the new export business of processed chicken meat products and the major customers' food and beverage business of the Group; and (iii) an increase in average selling price of chicken meat products resulting in an increase in the Group's profit due to the recovered consumption in the first half year.