Xingda International Holdings Limited provided preliminary unaudited consolidated group earnings guidance for the year ended 31 December 2022. For the year, the group expects to record an increase in profit attributable to owners of the Company as compared to those for the year ended 31 December 2021. Based on the preliminary review of the unaudited consolidated management accounts of the Group, the profit attributable to owners of the Company for the year ended 31 December 2022 increased by the range of 45% to 60% when compared with that of RMB 218,855,000 in the corresponding period in 2021.

The expected increase in the net profit attributable to the owners of the Company for the year ended 31 December 2022 was primarily attributable to an increase in the proportion of overseas sales of the Group's products which generally have higher average selling price and profit margin as compared to those of domestic sales products, which led to an increase in revenue and gross profit as a whole. The Group also recognised net foreign exchange gain instead of net foreign exchange loss in the corresponding period in 2021, the effect of which was mainly off-set by the provision of impairment loss for the thermal-electric plant owned by the Group and increased income tax expense and distribution and selling expenses of the Group for the year ended 31 December 2022.