Deewin Tianxia Co. Ltd. provided earnings guidance for the year ended December 31, 2022. For the year, the group expected its net profit to decrease by approximately 38% to 42% as compared to the year ended December 31, 2021.

The net profit of the Group for the year ended December 31, 2021 was RMB 368.7 million. The expected decrease in the net profit is primarily attributable to the overall decline in China's commercial automobiles industry, with the sales volume of heavy commercial automobiles in China in 2022 dropping over 52% year-on-year; and the COVID-19 which continued to weigh on the overall business operations in 2022, especially in the second half of the 2022, the resurgence of the pandemic in regions where the Company's principal business are located exerted a greater impact on all business segments of the Company, resulting in a decline in revenue and reduction in overall gross profit of the Group.