Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Limited provided earnings guidance for the year ended 31 December 2021. For the period, it is expected that the Company would record a consolidated net loss of not less than RMB 80 million for FY2021 as compared to the audited consolidated net profit of RMB 622.9 million recorded for the year ended 31 December 2020, which was mainly due to (i) the impairment of property, plant and equipment in FY2021; (ii) decrease in gain on resumption of land use rights; (iii) increase in income tax expenses due to gain on resumption of land use rights; and (iv) loss of disposal of land in Lianyungang in FY2021.