According to the Zhitong Finance App, Jin Taifeng International Holdings (09689) issued an announcement. In addition to the reasons disclosed in the previous announcement, the Group expects the loss attributable to company owners to be approximately RMB 1.5 million for the year ended December 31, 2023, while the profit expected from the previous announcement was not less than RMB 3 million, mainly due to increased provision for falling inventory prices.

The board of directors intends to emphasize that the losses due to the Group's company owners for the year ended December 31, 2023, as described above, occurred after confirming the losses in the lawsuit (the controlling shareholder will pay compensation, as disclosed in the company's announcement dated January 2, 2024); and after applying for the transfer of professional and other expenses related to listing on the main board from GEM, and these are one-time and non-operating.

Furthermore, in order to help the company's shareholders and potential investors evaluate the Group's operating performance, after deducting the after-tax impact of such projects, the Group's adjusted profit for the year ended December 31, 2023 was approximately RMB 20 million.