China Putian Food Holding Limited provided earnings guidance for the year ended 31 December 2022. For the year, the company is expected to record a loss in the consolidated financial results of the Company of not less than RMB 350 million as compared to the loss of a consolidated financial results of the Company for the year ended 31 December 2021 of approximately RMB 266.46 million, representing an increase in loss of at least approximately 31.35% as compared with the year ended 31 December 2021. The Board considers that such changes are mainly due to the following losses being recorded for the Year: the ECL provision relating to the long outstanding accounts receivables of the Group; and a possible further substantial impairment loss on non-current assets of the Group's cash generating units under a fair value assessment test.
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