Huifu Payment Limited provided earnings guidance for the eleven months ended November 30, 2020. For the year, the company widened net loss for the Period to approximately RMB 150 million to RMB 170 million. The Board believes that the deterioration in the financial performance of the Group for the Period is mainly attributable to the continued impact of the COVID-19 pandemic on the business of the Group, which caused the decrease in revenue generated from the traditional payment services, especially in the tourism and aviation industries, furthering the "Payment+SaaS" strategy, the Group continued to invest in the new SaaS business, thereby increasing the research and development expenses and sales and marketing expenses for improving the technology, data and platform as well as facilitating business development to formulate customized solutions for the clients and the impact of the share-based payment expenses on the net loss for the Period primarily as a result of the grant of the restricted share units under the Share Award Scheme, which were fully recognized in the first half of 2020, but such expenses have no impact on the adjusted net profit which does not take into account the share-based payment expenses.