Hao Wen Holdings Limited provided earnings guidance for the six months ended June 30, 2020. For the period, the company based on the information currently available and the preliminary assessment of the unaudited consolidated management accounts of the Company and together with its subsidiaries, the Group is expected to record a net loss of not less than approximately RMB 500,000 for the six months ended 30 June 2020 as compared with a net profit for the corresponding period in 2019. The aforesaid turnaround from profit to loss position was mainly due to the increase in allowance for expected credit losses.