The board of directors of China Nonferrous Mining Corporation Limited informed the shareholders of the Company and potential investors that, based on a preliminary assessment of the unaudited consolidated management accounts of the Group and the information currently available to the Board, the Group is expected to record the profit attributable to owners of the Company of not less than USD 22 million for the six months ended 30 June 2020, representing a year-on-year decrease of not more than 72%. The Board expects the Group to record a year-on-year decrease in profit attributable to owners of the Company for the six months ended 30 June 2020, mainly due to the following market factors: decreases in the average copper price quoted by the London Metal Exchange as compared with the corresponding period in 2019 due to the slowdown of global economy and industrial chain and the weak demand for copper products in 2020 under the impact of COVID-19 pandemic, which in turn resulted in compressed profitability and the year-on-year decrease in the profit of the Company; and a significant year-on-year increase in the exchange losses as adversely impacted by fluctuations in market exchange rates.