MOBI Development Co., Ltd. provided earnings guidance for the year ended December 31, 2020. For the period, the company expects to record a decrease of over 80% in its unaudited consolidated net profit for the year ended 31 December 2020 as compared to the corresponding period in 2019. The decrease in the Group's net profit was primarily attributable to the following reasons: Due to the impact brought upon by the COVID-19 pandemic at home and abroad, the need for mobile network construction in certain countries and regions has slowed and payment of certain project income has been delayed, in addition, due to the slower-than-expected progress of 5G network construction in the PRC, the bidding for relevant projects of operators has also been delayed; and in order to prepare for the launch of 5G network and vertical application of the projects, the Group has deployed more R&D resources and initiated a substantial number of new projects, resulting in a significant increase in R&D expense. Furthermore, as the Group uses USD as its key currency for export settlement, the significant depreciation of US dollars against RMB since mid-2020 led to a substantial increase in exchange loss.