The board of directors of Guangshen Railway Company Limited (the "Board") informed the shareholders (the "Shareholders"), investors and potential investors of the Company that, based on a preliminary review and analysis of the unaudited consolidated management accounts of the Group for the year ended December 31, 2020 (the "Current Reporting Year") and information currently available to the Board, the Group is expected to record a net loss attributable to the Shareholders for the Current Reporting Year in the range of approximately RMB 400 million to RMB 600 million, representing a decrease in the range of approximately 153% to 180% as compared to the net profit attributable to the Shareholders for the year ended December 31, 2019 of approximately RMB 748.44 million.