China Modern Dairy Holdings Ltd. provided earning guidance for the year ended 31 December 2020. The board of directors of the Company informed the shareholders of the Company and potential investors that, based on a preliminary review of the information currently available to the Board (including the unaudited consolidated management accounts and other operational data of the Group), it is expected that the Group will record a profit of not less than RMB 700 million (including a one-off disposal gain of approximately RMB 72 million resulting from the Company's injection of energy-producing assets into a joint venture) for the year ended 31 December 2020 (the "Current Reporting Year"), representing a year-on-year increase of not less than 100% (the profit for the year ended 31 December 2019 (the "Last Reporting Year") amounted to approximately RMB 350 million, including a one-off reversal of impairment recognized in respect of trade receivables of approximately RMB 161 million).