CPM Group Limited provided unaudited consolidated earnings guidance for the year ended December 31, 2023. For the period, the company expects the loss attributable to the Shareholders for the FY2023 is expected to decrease significantly by 30% to 42%, to the amount between HKD 57.00 million and HKD 69.00 million, as compared with the same of HKD 98.08 million for the year ended 31 December 2022. The decrease in the estimated amount of the loss attributable to the Shareholders for the FY2023 was primarily due to the following principal factors: (i) increase in the rental income derived from the leasing out of certain factory premises of the Group which were previously underutilized in Mainland China to independent third parties; (ii) decrease in the selling and distribution expenses and the administration expenses as a result of the decrease in the sales of paint and coating products of the Group and the integration of the production facilities of the Group conducted in the last year; (iii) decrease in the staff termination cost in other operating expenses; and (iv) substantial improvement in the gross profit margin of the sales of paint and coating products of the Group following the suspension of the production of those paint and coating products with low gross profit margins.