Tibet Water Resources Ltd. provided earnings guidance for the six months ended 30 June 2023. The Group is expected to record a loss attributable to owners of the Company of not more than approximately RMB 14 million for the six months ended 30 June 2023, compared to a profit attributable to owners of the Company of approximately RMB 7 million for the corresponding period in 2022. The expected loss is mainly due to the decrease of about 25% and about 20% in the sales volume and revenue of the beer business segment respectively when compared with the corresponding period in 2022.

In particular, the sales volume of beer cooperative products in the first half of 2023 decreased significantly when compared with the corresponding period in 2022, resulting in a decline in the overall sales Volume and sales of beer products of the Group in the first half of 2023.