Add New Energy Investment Holdings Group Limited provided earnings guidance for the year ended 31 December 2021. Based on the unaudited consolidated management accounts of the Group for the year ended 31
December 2021 and the financial information currently available, it is expected that the Group will record a loss for the year attributable to owners of the Company of approximately RMB 30 million for the year ended 31 December 2021 as compared with a profit for the year attributable to owners of the Company of approximately RMB 62 million in the same corresponding period last year. The loss are mainly due to (1) the decrease in other income by approximately RMB 58 million which was attritributable by, among others, the lack of one-off compensation for unlawful encroachment of the Group's mining areas amounting to RMB 50 million recorded in the same corresponding period last year; and (2) the decrease in gross profit by approximately RMB 45 million resulted from significant drop in the market price of iron ores in the second half of 2021, which was partly offset by net foreign exchange gain of approximately RMB 13 million.