China Modern Dairy Holdings Ltd. provided preliminary unaudited consolidated group earnings guidance for the six months ended June 30, 2021. For the period, the group expects to record a profit of not less than RMB 460 million, representing a year-on-year increase of not less than 100% (as compared to the profit for the six month ended June 30, 2020 (the last reporting period) from the unaudited consolidated interim results of approximately RMB 226 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). After excluding such one-off disposal gain recorded in the last reporting period, the board expects that the year-on-year increase in profit for the current reporting period as compared to the last reporting period will be approximately 200%. The expected growth of profit for the current reporting period is mainly attributable to a double-digit growth in both the group's raw milk production and sales volume as compared to the last reporting period; the gross profit margin of raw milk sales remained stable and the gross profit of sales increased as compared to the last reporting period; and the group continued to promote the strategy of cost reduction and efficiency enhancement. Except for the increase in feed cost due to market factors, other costs and expenses were effectively controlled.