YuanShengTai Dairy Farm Limited provided group earnings guidance for the six months ended 30 June 2023. For the period, the Group is expected to record a net loss ranging from approximately RMB 260 million to RMB 280 million, as compared to a net profit of approximately RMB 52.7 million for the six months ended 30 June 2022 (the "Corresponding Period"). The Board is of the view that the significant increase in net loss was mainly attributable to: (i) the increase in loss on changes in fair value less costs to sell of biological assets which is due to the decrease in the price of raw milk and the increase in feeding cost; and (ii) the impairment loss on property, plant and equipment of an indirect wholly owned subsidiary of the Company.