The board of directors of the Shanghai Industrial Holdings Limited updated the shareholders of the company and potential investors that, based on the company's current expectations and preliminary assessment of the latest unaudited financial information currently available to the company for the six months ended 30 June 2021, the Board expects that the net profit of the company for the six months ended 30 June 2021 will be increased by not more than 170%, which is higher than that of the corresponding period in 2020. the adverse market conditions brought about by the outbreak of corona virus pandemic (COVID-19) and associated quarantine and social protective measures put in place in mainland China, Hong Kong and overseas, which has adversely affected the profits for the six months ended 30 June 2020. Some business sectors of the Group, including the toll road business, has returned to normal level of operations since the second half of 2020; an additional profit contribution from a property joint venture project of the Group in respect of the properties delivered during the six months ended 30 June 2021 for such project; an additional profit gain recorded during the six months ended 30 June 2021 arising from sale of a property project of the Group; a revaluation gain arising from the re-classification of a property development project; and the compensation on waiver of toll mileage at the entry sections of certain expressways of the Group, details of which are set out in the announcement of the company dated 22 June 2021.