Technovator International Limited provided earnings guidance for the six months ended 30 June 2023. The company expected to record a loss ranging from approximately RMB 13.0 million to RMB 15.0 million for the six months ended 30 June 2023, as compared with the profit of approximately RMB 9.7 million for the same period of 2022. The loss is mainly attributable to the lower revenue resulted from the slower than expected recovery in the target market, the slowdown in project investment, the prolonged project implementation and payment cycle, as well as an increase in provisions for impairment of receivables out of the principle of prudence.