China Hongqiao Group Limited provided consolidated earnings guidance for the year ending December 31, 2020. The board of directors of the company announced that the shareholders of the company and the potential investors that, based on the currently available information, the group is expected to record a significant increase in the consolidated profit attributable to the shareholders for the year ending 31 December 2020 as compared to that for the corresponding period of 2019, representing an expected increase of approximately 50%. The increase in the consolidated profit attributable to the Shareholders was mainly attributable to, the expected increase in the average sales price of aluminum products for the year ending 31 December 2020 as compared with that for the same period of 2019 and the expected decrease in the production costs, which will lead to an increase in the gross profit of the Group; the expected decrease in the impairment loss of the group for the year ending 31 December 2020; and the expected reduction in the financial expenses and the expected increase in foreign exchange gain of the Group for the year ending 31 December 2020.