Sinotruk Ji'nan Truck Co. Ltd. provided earnings guidance for the six months ended June 30, 2023. Financial forecast for the six months ended 30 June 2023, net profit attributable to the equity holders of Ji'nan Truck for the six months ended 30 June 2023 (prepared in accordance with the PRC Accounting Standards for Business Enterprises and Relevant Regulations) is expected to increase from approximately RMB 320.4771 million for the corresponding period of 2022 to the range from approximately RMB 465 million to RMB 529 million, representing an increase of approximately 45% to 65%.

The increase is mainly due to the significant recovery in the heavy duty truck industry benefited from the steady improvement of the domestic macroeconomic economy and the increasing demand in overseas markets. Ji'nan Truck has achieved significant growth in product sales volume and profitability by seizing market opportunities and continuously adjusting product and business structures. Ji'nan Truck grasped market opportunities, oriented by customers and centered around products, continuously optimized its product and business structure, and continuously improved its capabilities in term of brand, channel and marketing to realize significant growth in product sales and considerable improvement in profitability.