According to the Zhitong Finance App, Taihe Microfinance (01915) announced that in the six months ending June 30, 2023, the Group expects to have an after-tax loss of about RMB 11.5 million to RMB 13.5 million, while the six months ending June 30, 2022 will have an after-tax loss of about RMB 2.9 million. The main reason for the increase in losses is the continued downturn in the real estate and construction industry in Yangzhou, which has led to an increase in defaulted loans and increased provision for impairment losses by some of the company's customers in this industry.

Therefore, in accordance with the economic situation, the Group has strengthened loan impairment and loss provisions and increased the write-off of non-performing loans, thus protecting shareholders' interests to the greatest extent possible.