Green Future Food Hydrocolloid Marine Science Company Limited provided earning guidance for six months ended 30 June 2023. Following a preliminary review of the currently available information which includes, but without limitation to, the unaudited consolidated management financial statements of the Group for the six months ended 30 June 2023 (the "first half 2023"), the Board wishes to inform the shareholders (the "Shareholders") and the prospective investors of the Company that the amount of the unaudited consolidated profit attributable to owners of the Company (the "Net Profit") for the first half 2023 is expected to decrease by 75% to 80% to the range between RMB 20.8 million and RMB 26.1 million (equivalent to HKD 23.5 million and HK$29.5 million), as compared to the Net Profit of RMB 104.4 million (equivalent to HKD 126.1 million) for the six months ended 30 June 2022. The decrease in the Net Profit for the first half 2023 was primarily due to the combined effect of the increases in the cost of goods sold and the decreases in sales volume of the processed carrageenan products of the Group as a result of the continued increase in the purchase cost of seaweeds during 2022 that pushed up the average cost of inventory sold during first half 2023, and the decrease in demand from overseas customers which is believed to be cyclical in nature.