China New Energy Limited expected to record a net loss after taxation of approximately RMB 16.3 million for six months ended 30 June 2023 as compared to a net loss of after taxation of approximately RMB 10.3 million for the six months ended 30 June 2022, which is primarily due to the significant decrease in the new contract orders obtained in the Period and the corresponding sales revenue, as well as increase in impairment losses on trade receivables.