China Tianrui Group Cement Company Limited provided earnings guidance for the year ended December 31, 2022. For the year, the company expected the profit and total comprehensive income to decrease by approximately 60%, as compared to a profit and total comprehensive income for the year ended December 31, 2021 of approximately RMB 1,281,522,000. Based on the information currently available, the expected decrease in the profit and total comprehensive income was mainly attributable to the decline in demand in the cement market as a result of factors including the downturn in the real estate market and the unstable situation of the epidemic in 2022, which led to a drop in revenue from sales of the Group's cement products; and the rise in coal prices which led to increase in the Group's production costs.

The Group also recognized foreign exchange loss of approximately RMB142 million due to foreign exchange fluctuation.