Chaowei Power Holdings Limited provided consolidated earnings guidance for the three months ended 31 March 2018. For the quarter, the Group is expected to record a significant decrease in profit for the six months ending 30 June 2018, as compared to that for the six months ended 30 June 2017. The Board considers that the expected significant decrease in profit was mainly attributable to the very intense price competition in the lead-acid motive battery industry in the PRC since the beginning of 2018 resulting from excessive production capacity.