Xiangxing International Holding Limited provided earning guidance for six months ended 30 June 2023. The board of directors of the Company informed the shareholders (the "Shareholders") and potential investors of the Company that based on the preliminary review of the Group's unaudited consolidated management accounts for the six months ended 30 June 2023 (the "Relevant Period") and the information currently available to the Board, it is expected that the Group will record a decrease of not less than 70% in the Group's net profit for the Relevant Period as compared with the net profit of approximately RMB 6.7 million for the six months ended 30 June 2022. Such decrease was mainly attributable to: (1) the Group's initiative to reduce the supply chain operation business to reduce the recoverability risk of the accounts receivable of this business which has led to the large extent of decrease in related revenue and profit; and (2) the decrease in throughput in the intra-port related services due to the impact of the economic environment.