Tian Ge Interactive Holdings Limited provided consolidated earnings guidance for the year ended 31 December 2023. For the year, the Company is expected to record a consolidated net loss with an amount ranging from RMB 125.5 million to RMB 135.1 million for Fiscal year 2023, compared with a net loss of RMB 533.4 million for the year ended 31 December 2022. The net loss for fiscal year 2023 stemmed significantly from fair value losses on financial assets at fair value through profit or loss.

The fair value losses were mainly due to prudent valuation adjustments on venture capital fund investments, resulting in a significant loss of around RMB 40.0 million. There were also approximately RMB 27.2 million in fair value losses on specific investment in the equity securities of suspension of trading, and approximately RMB 19.7 million in fair value losses on investments in unlisted equity securities. Moreover, investment properties have incurred fair value losses estimated at approximately RMB 18.2 million, attributed to adverse domestic real estate market conditions.