Tiande Chemical Holdings Limited provided earnings guidance for the six months ending June 30, 2020. For the period, the Group expects that there would be a turnaround from the net loss attributable to owners of the Company of approximately RMB11.5 million for the six months period ended 30 June 2019 to net profit attributable to owners of the Company for the six months period ending 30 June 2020 of not less than RMB 40.0 million. The results improvement is primarily attributable to (i) an increase in turnover driven by the launch of new products and proactive sales and marketing strategies adopted by the Group despite the selling prices dropping further caused by the diminishing of market demand; (ii) a decline of price of raw materials and implementing effective procurement strategies to contain the cost of raw materials as well as adopting effective cost control measures on production overheads resulting in the gross profit and gross profit margin being enhanced further; and (iii) absence of one-off written off for the property, plant and equipment of Jiangsu Chunxiao Pharmaceutical & Chemical Co. Ltd., a former wholly owned subsidiary of the Company, amounting to RMB 34.9 million recorded in last corresponding financial period.