The board of directors Tianjin Binhai TEDA Logistics (Group) Corporation Limited announced that based on the preliminary assessment of the Group's unaudited management accounts, and in view of the ongoing novel coronavirus (COVID- 19) pneumonia pandemic and market condition, it is expected that the Group may record a loss attributable to owners of the Company of approximately RMB 133 million for the year ended 31 December 2020 ("Year 2020"), compared to a profit attributable to owners of the Company of RMB9.07 million for the same period in 2019. The Board considers that the main reason for the significant loss in the Company's results is that the Company has made provisions for impairment for trade receivables.