Strawbear Entertainment Group provided earning guidance for the year ended December 31, 2022. The board of directors of the Company informed the shareholders of the Company (the "Shareholders") and potential investors of the Company that, based on the preliminary review of the unaudited consolidated management accounts of the Group for the year ended December 31, 2022 and the information currently available to the Board, it is expected that the Group will record (i) a consolidated net profit attributable to Shareholders of approximately RMB 46.1 million to RMB 55.3 million for the year ended December 31, 2022 as compared to that of approximately RMB 169.2 million for the year ended December 31, 2021, representing a decrease by approximately 72.8% to 67.3%; and (ii) an adjusted net profit of approximately RMB 68.7 million to RMB 77.9 million for the year ended December 31, 2022 as compared to that of approximately RMB 194.1 million for the year ended December 31, 2021, representing a decrease by approximately 64.6% to 59.9%. Based on the information currently available to the Board, the Board believes that such decrease in the consolidated net profit attributable to Shareholders and the adjusted net profit was primarily attributable to the decrease in revenue resulting from the decrease in the number of drama series of the Group broadcast during the year ended December 31, 2022, which was due to the delay in filming and post-production of drama series and obtaining the broadcast permissions caused by the reduction of mobility of production staff due to the outbreak of COVID-19 pandemic; and was partly offset by the decrease in selling and distribution expenses by approximately RMB 179.7 million due to the aforementioned decrease in the number of drama series of the Group broadcast during the year ended December 31, 2022.