Xiwang Special Steel Company Limited provided earning guidance for the six months ended 30 June 2020. It is expected that the Group would record a consolidated net profit attributable to the owners of the Company of not less than RMB 150 million for the six months ended 30 June 2021 (the "Current Period") as compared to a consolidated net loss of approximately RMB 274 million for the six months ended 30 June 2020 (the "Prior Period"). The turnaround from a consolidated net loss attributable to the owners of the Company for the Prior Period to a consolidated net profit for the Current Period was mainly attributable to the Group's efforts to increase production and reduce costs, which had achieved great results, and the increase in production and sales had resulted in the increase in the Group's revenue and gross profit in the Current Period. It is expected that the Group would record a consolidated net profit attributable to the owners of the Company of not less than RMB 150 million for the Current Period as compared to a consolidated net loss of approximately RMB 274 million for the Prior Period.