The board of the directors of Launch Tech Company Limited informed the shareholders of the Company and potential investors that based on a preliminary review of the Group's unaudited consolidated management account and the information currently available, the Group is expected to be turning around in 2021; and conservatively estimates that the expected unaudited consolidated profit for the year ended 31 December 2021 amounted to not less than approximately RMB 90,000,000, compared with that the audited consolidated loss for the year ended 31 December 2020 of approximately RMB 120,000,000. Based on the information currently available, the Board believes the turning around by the Company is mainly attributable to the increase in revenue and fall in expenses resulting from very good growth was achieved in overseas and e-commerce business and under better effective cost control.