Yuanda China Holdings Limited provided earning guidance for the year ended 31 December 2022. The board (the "Board") of directors (the "Directors") of the Company informed the shareholders (the "Shareholders") and potential investors of the Company that, based on the preliminary review of the unaudited consolidated management accounts (the "Management Accounts") of the Group for the year ended 31 December 2022, which have not been reviewed or audited by the independent auditors and/or audit committee of the Company, and the information currently available to the Board, the Group is expected to record a profit in the range of between approximately RMB 70 million and RMB 80 million for the year ended 31 December 2022, representing a substantial improvement as compared to the net loss of approximately RMB 995.8 million for the year ended 31 December 2021. The Board considers that the turnaround from loss to profit was primarily attributable to the Group has accelerated the project progress billings and trade receivables collection, which is expected to result in a decrease in credit losses of financial and contract assets and other receivables.