China Beststudy Education Group provided earnings guidance for the financial year ended 31 December 2021. For the year, the company expects to record a net loss ranging from approximately RMB 200.00 million to RMB 300.00 million for the financial year ended 31 December 2021 as compared to the profit for the year of approximately RMB 127.79 million for the financial year ended 31 December 2020, as disclosed in the Company's annual report for the financial year ended 31 December 2020, which was published on 14 April 2021. This is primarily due to the following factors: (i) compensation for dismissal of employees, liquidated damages for surrender for rental, upfront expenses of decoration and the provision made by the Company for impairment in certain long-term assets; and (ii) as disclosed in the Company's inside information announcement dated 17 December 2021, entitled overdue redemption of certain wealth management products, certain wealth management products purchased by the Company are overdue for redemption and other wealth management products purchased by the Company may also be subject to the risk of overdue redemption.