China Glass Holdings Limited provided consolidated earnings guidance for the six months ended June 30, 2023. For the period, the company to record a loss between RMB 130 million and RMB 150 million, whereas a net profit of approximately RMB 121 million was recorded by the Group for the six months ended 30 June 2022. Such loss was mainly attributable to the combined effect of the following factors: (1) China's real estate industry in 2023 has continued to be "low demand and low growth" since 2022, leading to the average market price of float glass in the first half of the year to be lower than the corresponding period in 2022; and (2) despite the prices of principal raw and fuel materials in 2023 have begun to decline since the second quarter, the overall prices were still at a relatively high level.