Ye Xing Group Holdings Limited’s shareholders of the company and potential investors that based on the preliminary assessment of the unaudited consolidated management account of the Group for the year ended 31 December 2020 and the information currently available to the Board, it is expected that the Group's after-tax profit for the year ended 31 December 2020 will be about 25% lower than the net profit of approximately RMB 25.88 million recorded for the year ended 31 December 2019. The expected decline is mainly due to the decrease in revenue from value-added services business due to the impact of the COVID-19 pandemic; the reduction in the utilization rate of commercial properties and industrial parks leading to the drop in revenue from such properties, due to sporadic outbreak of COVID-19 incidents within the area of commercial properties in Beijing in the second half of 2020; the need to strengthen COVID-19 pandemic prevention at the request of the government, which greatly increases the costs of epidemic prevention, resulting in costs of services increase.