Wise Living Technology Co. Ltd. provided earning guidance for year ended 31 December 2023. The board of directors informed the shareholders of the Company (the "Shareholders") and potential investors that, based on the preliminary assessment by the Board with reference to the unaudited consolidated management accounts of the Group for the year ended 31 December 2023 and the information currently available, the Group expects to record a net profit attributable to owners of the Company ranging from approximately RMB 130.0 million to approximately RMB 150.0 million for the year ended 31 December 2023, representing an increase of approximately 35% to approximately 56% as compared to approximately RMB 96.4 million for the year ended 31 December 2022.

Such increase was mainly attributable to (i) an increase in the gross profit of the provision and distribution of heat due to an increase in the actual heat service area of the Group, an increase in the heat rates of certain concession projects and a decrease in the cost of sales; (ii) an one-off compensation income for compensating heat services provided to Lanzhou New Area Vocational Education Park; and (iii) an increase in the pipeline connection fee.