Gelonghui, March 4 | Xinbang Holdings (01571.HK) announced that the company expects the net profit attributable to its owners to be no less than RMB 570.0 million (2022: RMB 431.3 million) for the year ended December 31, 2023.

The expected increase in net profit attributable to owners of the parent company is mainly due to: 1. In 2023, the Group received more revenue from the North American market, and the average sales price continued to rise; and 2. As the Group's automation rate increased and product yield increased, gross margin improved further compared with 2022.