CITIC Resources Holdings Limited provided earnings guidance for the ten months ended 31 October 2020. For the period, the company expects decrease in sales of an approximately 20% year-on-year and a loss attributable to the Shareholders of an approximately HK$550 million were recorded as compared with the same period unaudited consolidated management accounts of last year. A loss attributable to the Shareholders for the year ending 31 December 2020 is expected as compared to a profit attributable to the Shareholders of an approximately HK$600.3 million for the year ended 31 December 2019. The Board expects that the Group will continue to record a loss for the six months ending 31 December 2020, after the Group reported an unaudited loss of an approximately HK$430.8 million for the first six months period ended 30 June 2020 of the Group on 24 July 2020 (the "2020 Interim Results Announcement"). The Board estimates that the Group will record a decrease in revenue for the year ending 31 December 2020 of an approximately 18% year-on-year as compared with the year ended 31 December 2019. The loss attributable to the Shareholders for the year ending 31 December 2020 is expected to further deteriorate since the 2020 Interim Results Announcement which is mainly due to the non-stop coronavirus disease (the "COVID-19") since its outbreak by the end of January 2020. Corresponding anti-pandemic measures, including worldwide partial lockdown of human flows, suspension of schooling and work from home arrangements, have been implemented resulting in a significant reduction in demand for fuel since then. Shrinking in demand of fuel led to collapsing demand in crude oil.