Technovator International Limited provided group earnings guidance for the year ended 31 December 2023. The Group is expected to record a loss ranging from approximately RMB 99.0 million to RMB 109.0 million for the year ended 31 December 2023, as compared with the profit of approximately RMB 55.7 million for year ended 31 December 2022. The loss occurred during the reporting period is mainly attributable to the significant decline in gross profit margin during the period which led to a significant adverse impact on net profit resulting from the adjustment in the Group's market strategy to secure market share in view of the slower-than- expected recovery in the target market and intensifying industry competition.