China Zhongwang Holdings Limited provided earnings guidance for the six months ended June 30, 2020. For the period, the company expects to record a profit for the period of approximately RMB 500 million to RMB 550 million for the six months ended 30 June 2020, representing a decrease of approximately 66% to 62% as compared to the corresponding period in 2019 (approximately RMB 1,465 million). Such decrease in the Group's profit for the period for the six months ended 30 June 2020 was mainly due the Group recorded a net loss in the first quarter of 2020 as a result of the impact to the ordinary procurement, production and sales processes of the Group since the outbreak of the COVID-19 epidemic in the first quarter of 2020 and its impact to the production and operation of the Group's suppliers and customers. The Group gradually resumed its production activities in February 2020, and fully resumed production activities in April 2020. With the full resumption of production of the Group and the effective control of the epidemic in Mainland China, the Group's sales volume and sales value increased significantly in the second quarter of 2020 compared with those in the first quarter of 2020.