The board of directors of the Confidence Intelligence Holdings Limited informed the shareholders of the company and potential investors that based on a preliminary review of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2020, the unaudited revenue of the Group for the six months ended 30 June 2020 is expected to decrease by approximately 20% as compared to the corresponding period in 2019. The Group expects to record a substantial decline in the net profit by approximately 70% to 90% in the Period as compared with the Group's profit (which excludes the listing expenses) for the corresponding period in 2019. The decreased in the net profit for the Period was mainly due to: reduced demands from customers due to deteriorated business and economic environment and the lockdown measures imposed by many countries as a result of the spread of the novel coronavirus disease (COVID-19) throughout the world during the Period; temporary suspension of the operation of the Group's production plant and the lockdown measures imposed by the government of the PRC amid outbreak of the novel coronavirus disease (COVID-19) in the first quarter of 2020; certain operating costs of the Group remain fixed while revenue decreased; and a disposal loss on the idle and outdated equipment.