Virscend Education Company Limited provided consolidated earnings guidance for the year ended 31 August 2023. The group expects to record a profit before tax of approximately RMB 35 million to RMB 40 million for the Year, as compared to the profit before tax of approximately RMB 4.4 million for the year ended 31 August 2022, representing an increase ranging from approximately 695% to 809%. Such increase in profit before tax mainly derives from (i) the increase in the number of students enrolled in schools of the Group, (ii) the increase in the average tuition fee of schools of the Group, and (iii) cost saving by implementation of cost and expenses control measures by the Group in its daily operation.