China Singyes New Materials Holdings Limited's board of directors announced that based on the preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 December 2020, the Group expects to record a significant decrease in profit attributable to owners of the Company in the range of approximately 90% to 99% for the year ended 31 December 2020 as compared with the profit attributable to owners of the Company of approximately RMB 18.2 million for the year ended 31 December 2019.