Putian Communication Group Limited provided consolidated earnings guidance for the six months ended June 30, 2022. For the six months, the company consolidated profit and total comprehensive income for the Current Period is expected to record a substantial decrease of approximately 80-90% as compared with the same for the six months ended 30 June 2021 (the "Last Period"). Such decrease was mainly due to (1) anti-epidemic policies in China interrupted the Group's production, supply chains and sale activities and adversely affected the Group's business performance; (2) raw material prices (such as cooper and optical fiber) have risen sharply during the Current Period which significantly impaired the Group's profit margin; and (3) finance cost charged to the Current Period was approximately 2.3 times of the one of the Last Period because there was no more borrowing costs capitalized during the Current Period given the relevant construction project has been completed and commenced into production since from the beginning of the Current Period.

Based on the currently available information, the Group recorded a decrease of approximately 6.4% in turnover and a decrease of approximately 80-90% in the unaudited consolidated profit and total comprehensive income for the Current Period as compared to the Last Period.