China Tontine Wines Group Limited provided earning guidance for the year ended 31 December 2022. The board of directors (the "Board") of the Company informed the shareholders of the Company (the " Shareholders ") and potential investors that, based on information currently available to the Board in the preparation of the final results of the Group for the year ended 31 December 2022 (the "Year"), the Group is expected to record a loss and total comprehensive expense of not less than RMB 27.0 million for the Year as compared to a profit and total comprehensive income of approximately RMB 17.2 million for the year ended 31 December 2021. The expected loss and total comprehensive expense for the Year was mainly attributable to (i) the decrease of the Group's revenue in the Year due to the COVID-19 pandemic and drop of demand for its wine products; (ii) the write-off on certain obsolete and slow moving inventories, impairment loss on right-of-use assets and property, plant and equipment and provision of expected credit loss for trade receivables in the Year; and (iii) the increase in selling and distribution expenses for brand building, sales and marketing of the products of the Group in the Year.