Sun Art Retail Group Limited provided unaudited consolidated earnings guidance for the year ended March 31, 2024. The Group for the year ended 31 March 2024, it is expected that the Group will record a net loss of approximately RMB 1.6 billion to RMB 1.7 billion for the year ended 31 March 2024, as compared to the Group's net profit of RMB78 million for the year ended 31 March 2023. The expected net loss is primarily attributable to impairment losses to be recorded for the year ended 31 March 2024 due to the impairment of right-of-use assets and fixed assets from stores with negative cash flows, those that are either closed or marked for closure, as well as the impairment of goodwill.