Perennial Energy Holdings Limited announced that based on the preliminary review on the unaudited consolidated management accounts of the Group for the year ended 31 December 2022 (the "Year") and information currently available to the Board, the net profit after tax of the Group for the Year is expected to range from approximately RMB 680.0 million to RMB 715.0 million as compared with approximately RMB 301.8 million for the year ended 31 December 2021 (the "Previous Year"), representing an increase of approximately 125% to 137%.