China High Speed Transmission Equipment Group Co., Ltd. provided earnings guidance for the year ended 31 December 2022. For the year, the company expects the profit attributable to owners of the Company to decrease by approximately 90% as compared to the profit attributable to owners of the Company of approximately RMB 1,315.2 million for the year ended 31 December 2021. Such a decrease is mainly attributable to (i) the Company's equity interest held in Nanjing High Speed Gear Manufacturing Co., Ltd, a subsidiary of the Company, decreased from approximately 93.02% to approximately 50.02% arising from the completion of the disposal of 43% equity interest in Nanjing High Speed for the year ended 31 December 2022; (ii) the income tax expenses of approximately RMB 315 million incurred arising from the Disposal for the year ended 31 December 2022; and (iii) the accrued interest of approximately RMB 214 million incurred arising from the put option liability in connection with the Disposal for the year ended 31 December 2022.