Chiho Environmental Group Limited provided consolidated earnings guidance for the six months ended 30 June 2021. The company Group is expected to record the following results: i) revenue for the 2021 Interim Period is expected in the range of HKD 10,700 million to HKD 11,300 million, representing at least 83% growth compared to the six months ended 30 June 2020; ii) gross profit for the 2021 Interim Period is expected in the range of HKD 900 million to HKD 1,000 million, representing at least 186% growth compared to 2020 Interim Period; iii) earnings before interest, taxes, depreciation and amortization ("EBITDA") of not less than HKD 660 million for the 2021 Interim Period, compared to HKD 57 million for the 2020 Interim Period; and iv) a net profit of not less than HKD 220 million for the 2021 Interim Period, representing a turnaround from a loss of HKD 288 million for 2020 Interim Period. The substantial improvement in the performance of the Group is mainly attributable to the following factors: i) the implementation of optimization and restructuring initiatives enables the Group to become leaner and more efficient, while many of its growth initiatives are starting to bear fruit; ii) China introduced new standards for the import of recycled metals from late last year. The Group leverages its extensive global network and its presence in China to seize the opportunity, leading to revenue growth; and iii) the global community continues to adapt to the new normal under the coronavirus pandemic and industrial activities have rebounded, leading to a strong rebound in demand for ferrous and non-ferrous metals.