Xinjiang Xinxin Mining Industry Co., Ltd. provided consolidated earnings guidance for the year ended 31 December 2023. For the year, the company expects to record consolidated revenue amounting to approximately RMB 2,051.08 million, representing a decrease of approximately 28.38% as compared to RMB 2,863.72 million for the Previous Year; and net profit amounting to approximately RMB 171.62 million, representing a decrease of approximately 76.91% as compared to RMB 743.24 million for the Previous Year. The significant decrease in the operating results of the Group for the Year as compared to the Previous Year was mainly attributable to the reasons that the sales volume of nickel cathode decreased from 12,752 tonnes in the Previous Year to approximately 7,747 tonnes in the Year, representing a decrease of approximately 39.25%; the sales volume of copper cathode decreased from 9,775 tonnes in the Previous Year to approximately 4,908 tonnes in the Year, representing a decrease of approximately 49.79%; the average selling price of nickel cathode (tax exclusive) decreased from approximately RMB 165,000 per tonne in the Previous Year to approximately RMB 142,000 per tonne in the Year, representing a decrease of approximately 13.94%; and the Group's investment income decreased from an investment income of approximately RMB 96.19 million in the Previous Year to an investment loss of approximately RMB 32.86 million in the Year, representing a decrease in income of approximately 134.16%, mainly due to the loss in the Year of a joint venture which had made a profit in the Previous Year.