Shanxi Changcheng Microlight Equipment Co. Ltd. provided group earnings guidance for the year ended 31 December 2022. For the year, the company anticipated that the Group will continue to record a loss of not less than RMB 14 million.

The sustained loss in 2022 was mainly attributable to the outbreak of coronavirus in several spots in Mainland China, the strict control measures imposed by the government on the situation of the coronavirus, the continuous lockdown and traffic restriction in various large-sized and medium-sized cities across the country, as well as the frequent and severe restrictions on the business activities of the upstream and downstream customers of the Company. These factors seriously affected the business activities of the Company. Further details of the Group's financial results and performance will be disclosed in the Company's annual results announcement (the 2022 Annual Results) and annual report for the year ended 31 December 2022.