The board of directors (the "Board") of China Geothermal Industry Development Group Limited (the"Company") announced that based on the preliminary assessment of the unaudited consolidated management accounts of the Company and its subsidiaries (collectively the "Group") for the nine months ended 30 September 2020 (the "Period"), it is expected that the net loss for the Period will significantly reduce by approximately 60% to 80% from HKD 52 million as recorded for the corresponding period last year.