Weigang Environmental Technology Holding Group Limited provided earnings guidance for the year ended 31 December 2022. For the year, it is expected to record a net loss attributable to owners of the Company within the range of approximately RMB 70.0 million to RMB 75.0 million for the year ended 31 December 2022 as compared to a net loss attributable to owners of the Company of approximately RMB 12.4 million for the year ended 31 December 2021. Such expected loss was mainly due to (i) the impairment loss of approximately RMB 19.3 million of Qingchuan pyrolysis project accrued based on the assessment by an independent third party valuer, which was reflected in the interim results of the Group for the six months ended 30 June 2022; (2) the impairment loss within the range of approximately RMB 16.5 million to RMB 17.5 million of the trade receivables and contract assets accrued based on the expected credit loss model; and (3) according to the preliminary assessment made by the management, the impairment loss accrued on the inventory of the battery cathode project within the range of approximately RMB 10.0 million to RMB 11.0 million, and the impairment loss of intangible assets of the Qingyang Qingyi project within the range of approximately RMB 8.0 million to RMB 8.5 million.