According to the Zhitong Finance App, Titan Energy Technology (02188) issued an announcement. Compared with the loss attributable to the company's shareholders of approximately RMB 18.6 million for the year ended December 31, 2022, the Group expects to obtain losses attributable to the company's shareholders of approximately RMB 40 million to RMB 45 million for the year ended December 31, 2023. The increase in expected losses for FY2023 is mainly due (i) to a decrease in gross margin due to adjustments to overall marketing strategies to increase market share; (ii) an increase in administrative expenses and sales and distribution expenses; and (iii) an increase in trade accounts receivable provisions.