Beijing Jingcheng Machinery Electric Company Limited provided earnings guidance for first half ended June 30, 2023. for the half year, the company expects to record a loss of RMB 28.500 million to RMB 35.000 million and After deducting the non-recurring profit and loss items, the Company's 2023 interim results are expected to record a loss of RMB 30.800 million to RMB 37.300 million. Main reasons for the significant decline in the results of the Company for the period are as follows: As the Company's export business accounted for a relatively large proportion, and that the current international situation is complex and severe, industrial gas products have been subject to a greater negative impact; due to the ongoing impact of the Russia-Ukraine conflict, energy prices in Europe experienced greater fluctuation, and the demand for natural gas products has slowed down.

As a result, the Company's industrial gas products and natural gas products export business declined sharply year-on-year.