Changan Minsheng APLL Logistics Co., Ltd. provided group earnings guidance for the year ended 31 December 2019. The Group is expected to record a loss before tax of approximately RMB 35,000,000 to RMB 38,000,000 for the year of 2019. The Board considers that the significant decrease in profit for the year ended 31 December 2019 is mainly attributable to the overall slowdown of the domestic automobile industry, which significantly impacted the logistics industry in China; due to sales slump, the Group's major customers, Chongqing Changan Automobile Co., Ltd. and its associates, had significantly reduced the volume of the logistics services from the Group; and the overall decrease in the logistic service rates.