China Saftower International Holding Group Limited provided earnings guidance for the six months ended June 30, 2020. For the period, the Group is expected to record a decrease in net profit of approximately RMB 6.5 million for the six months ended 30 June 2020 as compared to that for the six months ended 30 June 2019. The decrease in net profit was mainly attributable to (i) drop in the revenue of the Group in six months ended 30 June 2020 due to the outbreak of COVID-19 (ii) the decrease in government grants and subsidies as compared to six months ended 30 June 2019 due to the receipt of one-off government grants of approximately RMB 5.6 million in six months ended 30 June 2019 while such one- off government grants were not available in six months ended 30 June 2020 and the PRC government postponing the payment of government grants and subsidies of approximately RMB 2.5 million in the first quarter of 2020 under the impact of COVID-19; and (iii) no agency fee income was recorded during six months ended 30 June 2020 following the cessation of all aluminium oxide agency service arrangements in December 2019 whereas approximately RMB 2.5 million was recorded in six months ended 30 June 2019.