China Hongguang Holdings Limited provided group earnings guidance for the year ended December 31, 2020. The board of directors of the company inform the shareholders and potential investors of the company that, based on the preliminary review of the Group's unaudited consolidated management accounts for the year ended 31 December 2020 and the information currently available to the Board, the Group is expected to record a significant decrease in net profit for the Year by approximately 60% as compared to the net profit for the year ended 31 December 2019. The decrease in net profit for the Year was primarily attributable to the significant decline in revenue by approximately 22% for the Year as compared to that in the Previous Year due to the impact of the outbreak of the novel coronavirus since the beginning of 2020, which has caused postponement in resuming the Group's production and operation as well as postponement of project schedule and order execution of customers of the Group.