Cheerwin Group Limited provided earnings guidance for the year ended 31 December 2023. For the period, the company expects net profit to be not less than approximately RMB 144 million, representing an increase of not less than approximately 120% as compared with the corresponding period in 2022, whereas the revenue for Fiscal Year 2023 is expected to be not less than approximately RMB 1,591 million, representing an increase of not less than approximately 10% as compared with the corresponding period in 2022. The Board believes that the aforementioned increase is mainly attributable to the Group being able to return to the fundamentals of customer value and seize the market opportunities, by actively promoting the rapid development of its online and offline sales channels and improvement of its marketing efficiency; continuing optimization of its product structure and increasing the proportion of products with high profit margins; and the continuous supply chain reform, hence leading to an overall improvement in the Group's operating performance and profitability.