Shougang Concord Century Holdings Limited provided consolidated earnings guidance for the year ended December 31, 2020. The Board now inform the shareholders of the company and potential investors that, based on the Board's preliminary assessment of the unaudited consolidated financial statements of the Group for the year ended 31 December 2020 and the information currently available to the Board, the Group expected to record a profit after tax for the year ended 31 December 2020 of not less than HKD 130 million compared to the profit after tax of HKD 108 million for the year ended 31 December 2019. Such increase is primarily attributable to the following reasons: the improvement of gross profit margin arisen from the decrease in production costs; and the reduction in finance costs.