Dongyue Group Limited provided earnings guidance for the year ended 31 December 2023. For the year, the Group is expected to maintain the similar decline recorded in the first half of the year and record a significant decrease by approximately 82% in its net profit attributable to owners of the Company for the year ended 31 December 2023, as compared with that for the year ended 31 December 2022. Based on the analysis performed using information currently available, the Board considers that the aforementioned decrease in the Group's net profit attributable to owners of the Company for the year ended 31 December 2023 was mainly attributable to (i) the significant decrease in average market prices of some of the Group's major products during the year ended 31 December 2023 as compared with that for the year ended 31 December 2022, which led to the decrease in revenue of the Group during the year ended 31 December 2023; and (ii) the change in prices of raw material during the year ended 31 December 2023 being unable to make up for the impact on net profit of the Group caused by the decline in market
prices of products.