Shanshan Brand Management Co., Ltd. provided unaudited consolidated earnings guidance for the year ended 31 December 2022. For the year, the company is expected that the Group would record a consolidated net profit of not less than RMB 15.0 million, as compared with the audited consolidated net profit of approximately RMB 8.6 million for the year ended 31 December 2021. The increase of net profit of the Group for the Year was mainly attributable to: (i) the voluntary liquidation and discontinued operation of Lubiam (Ningbo) Apparel Co., Ltd, the operation of which has recorded a loss of approximately RMB 9.3 million in the 2021FY; (ii) the decrease of selling and distribution expenses due to effective cost reduction measures.