Ko Yo Chemical (Group) Limited provided consolidated earnings guidance for the six months ended 30 June 2023. For the six months, the company expects Group is expected to record a loss of approximately RMB 103 million for the six months ended 30 June 2023, representing a decrease of RMB 329 million as compared to a net gain of approximately RMB 226 million recorded for the same corresponding period last year. The major reason for the loss of the Group is mainly due to the decrease in the gross profit margin of the Group's products.

The increase in natural gas price and the decrease in average selling price of chemical products and chemical fertilisers for the first half of 2023 as compared to the same period last year resulted in a decrease in gross profit margin of the Group's products. The average gross profit margin of the Group's products for the six months ended 30 June 2023 is expected to be approximately 8.8% whereas the average gross profit margin of the same period last year was approximately 30.9%.