Ruifeng Power Group Company Limited provided consolidated earnings guidance for the six months ended 30 June 2022. For the period, the company expects consolidated net profit attributable to the equity holders of the Company to decrease by approximately 60%, as compared with the Net Profit of approximately RMB 33.0 million for the six months ended 30 June 2021. The Directors believe that the decrease in the Net Profit is primarily due to the substantial decrease in sales to a major customer of the Group as well as an increase in raw material costs and overhead costs, which was partially offset by new orders from new and existing customers of the Group, which caused a negative impact on the Group's sales volume and profit margin during the same period.