China Tontine Wines Group Limited provided earning guidance for the year ended 31 December 2021. The board of directors of the Company informed the shareholders of the Company and potential investors that, based on information currently available to the Board in the preparation of the final results of the Group for the year ended 31 December 2021, the Group is expected to record a profit and total comprehensive income of not less than RMB 15.5 million for the Year as compared to a loss and total comprehensive expenses of approximately RMB 168 million for the year ended 31 December 2020. The expected profit for the Year was mainly attributable to (i) a recovery of sales of the Group in the Year; (ii) as compared with a gross loss in the year ended 2020, the Group's gross profit has recovered and reached gross profit in the Year mainly by the rise of demand for its wine products, the launch of new products which have led to increase of sales and improvement of gross profit and no write-off on certain obsolete and slow moving inventories; (iii) no impairment loss on right-of-use assets and property, plant and equipment in the Year; and (iv) the decrease in selling and distribution expenses in the Year.