China Graphite Group Limited provided earnings guidance for the year ended 31 December 2022. For the year, the Group is expected to record (i) a net profit after tax of not less than RMB 76.0 million for the year ended 31 December 2022, representing an increase of not less than 42% as compared to that of approximately RMB 53.3 million for the year ended 31 December 2021; and (ii) an adjusted net profit after tax (which excluded the non-recurring listing expenses and government grant to reflect the actual performance of the Group's operation) of not less than RMB 80.0 million, representing an increase of not less that 52% as compared to that of approximately RMB 52.3 million for the year ended 31 December 2021. The Board believes that such increase was primarily attributable to: (i) the increase of the Group's revenue driven by the rapid development of new energy vehicle industry in the People's Republic of China (the "PRC'') during 2022 which increased the demand from downstream customers, and the average selling price of graphite products and sales volume of spherical graphite increased accordingly; (ii) the increase in the production volume of flake graphite concentrate and spherical graphite as a result of effective management in operating activities which leads to increase in revenue; and (iii) the synergy brought by graphite mine in Heilongjiang Province, the PRC, the extraction of which significantly increased the volume of graphite ore during 2022, thereby providing a stable supply for production.