China ITS (Holdings) Co., Ltd. provided group earnings guidance for the year ended 31 December 2023. For the year, the Company expects that the Group will record a profit attributable to owners of the parent of the Company of approximately RMB 137 million for the Reporting Year, as compared to a profit attributable to owners of the parent of the Company of RMB 48.5 million for the corresponding period in 2022, representing a year-on-year increase of approximately 183%. The Company believes that the significant growth in the Group's financial performance for the Reporting Year as compared to the year ended 31 December 2022 is mainly attributable to (i) the significant increase in revenue and gross profit of the railway segment and the energy segment for the Reporting Year as compared to that for the corresponding period in 2022; and (ii) the Group has recorded a significant gain on financial assets at fair value through profit or loss for the Reporting Year, while a significant loss was recorded in the
fair value on the financial assets for the year ended 31 December 2022 due to the market fluctuations.