Be Friends Holding Limited provided consolidated earnings guidance for the period ended June 30, 2023. Based on a review of the Group's unaudited consolidated management accounts for the period ended 30 June 2023, the Group is expected to record a net profit of no less than RMB 40.0 million for the Interim Period, such net profit has deducted share- based payment expenses of approximately RMB 51.4 million. For the period ended 30 June 2022 (the ?Corresponding Period''), the net loss was approximately RMB 30.0 million, such net loss has deducted share-based payment expenses of approximately RMB 18.4 million.

The Board is of the view that the remarkable results of the Group's new media services segment deployed by the Group since 2019 were the main reason for the net profit recorded during the Interim Period. It is also the successful implementation of the Group's diversification strategy. During the Interim Period, the Group built a high-quality brand of live-streaming e-commerce and new media marketing channels, and successfully achieved cross-platform operation.

The total gross merchandise volume (GMV) completed on the whole network exceeded RMB 5 billion, resulting in a rapid growth in the Group's overall business operation and financial performance.