The board of directors of JiaChen Holding Group Limited announced that based on the preliminary review of the latest consolidated management accounts of the Group for the six months ended 30 June 2022 and the information currently available to the Board, the Group is expected to record a net profit of not more than RMB 8.5 million attributable to the owners of the Company for the Current Period as compared to that of approximately RMB 12.4 million for the six months ended 30 June 2021. The Board considers that the reduction in the net profit attributable to the owners of the Company for the Current Period primarily arose from the decease in the sales revenue of the Group for the Current Period by not less than 20.0% as compared to that of approximately RMB 125.7 million for the corresponding period in 2021 due to the lockdown of several major Chinese cities resulting from the repeated spreading of the COVID-19 mutant, which suppressed the demands for the Group's products.