Trigiant Group Limited provided consolidated earnings guidance for the year ended 31 December 2023. For the period, the company is expected to record a loss of no more than RMB 30 million for the year 2023 as compared to the audited loss of approximately RMB 56.4 million recorded for the year ended 31 December 2022. Contributing factors are as follows: the Company is expected to record a turnover of approximately RMB 2.51 billion for the Year 2023, representing a decrease of 4.7% as compared to the turnover for the Year 2022 (approximately RMB 2.63 billion) mainly due to the decrease in turnover of feeder cable series and flame-retardant flexible cable series.

Accordingly, the Group expects the gross profit in the Year 2023 to be lower than the gross profit recorded for the Year 2022 (approximately RMB 352 million); and the Company preliminarily estimates that the impairment losses under expected credit loss model net of reversal for the Year 2023 is approximately RMB 166 million, representing a decrease of approximately RMB 38 million as compared with the impairment losses under expected credit loss model net of reversal for Year 2022 (approximately RMB 204 million).