Huazhang Technology Holding Limited provided group earnings guidance for the six months ended December 31, 2019. Based on the information currently available to the Company, the board of directors of the company inform shareholders of the company and potential investors that the group is expected to record an increase in loss for the six months ended 31 December 2019, as compared to the loss of RMB 35.9 million for the six months ended 31 December 2018. Such expected increase in loss was mainly attributable to: a significant increase in impairment loss recognized on trade and other receivables for the six months ended 31 December 2019 as several customers have financial difficulties and cannot repay the receivables timely in such economic environment; and Increase in the preliminary expenditures in relation to the preparation work of the waste recycling and treatment projects.