Weigang Environmental Technology Holding Group Limited provided earnings guidance for the year ended December 31, 2020. For the period the company expected that the board of directors of the Company based on a preliminary review on the unaudited consolidated management accounts of the Group and information currently available to the Board, it is expected to record a net loss attributable to owners of the Company within the range of approximately RMB 9.5 million to RMB 12.0 million for the year ended 31 December 2020 as compared to a net profit attributable to owners of the Company of RMB 67.0 million for the year ended 31 December 2019, which were mainly attributable to the novel coronavirus outbreak, which caused disruption to the Group's business plan (including but not limited to the delay in the progress of hazardous waste incineration solutions; and the decrease in gross profit margin of hazardous waste incineration solutions due to intense competition in the market.