Vesync Co. Ltd. provides group earnings guidance for the year ended December 31, 2022. For the year, the Group expects to record a decrease of approximately 25% to 35% or USD 10 million to USD 14.5 million in the profit attributable to owners of the parent for the Relevant Period as compared to the year ended December 31, 2021.

As of the date of this announcement, the Group is still in the process of assessing the impact of the Voluntary Recall on the financial performance of the Group, and based on the information currently available to the Board, the Board estimates that the Voluntary Recall would further reduce the profit attributable to owners of the parent for the Relevant Period by approximately USD 30 million to USD 60 million.