Sunlight Technology Holdings Limited provided earnings guidance for the six months ended June 30, 2020. The company Group is expected to record (i) a significant "Period") as compared to that of the corresponding period of 2019; and (ii) a loss attributable to owners of the Company of approximately RMB 6.2 million for the Period, as compared to the profit attributable to owners of the Company of approximately RMB 10.2 million for the corresponding period of 2019. The Board considered that the loss for the Period is mainly attributable to (i) the recognition of non-recurring listing expenses of approximately RMB 10.0 million recognized for the Period; and (ii) the decrease in revenue from the Group's business of sales of faux leather chemicals due to the following factors: (1) the global outbreak of the novel coronavirus in the second quarter of 2020 has had a strong impact on the global economy and financial markets, where foreign countries had implemented draconian measures to prevent further spread of epidemic including lock-down measures, travel and transportation restrictions etc., and have not been fully resumed as of the end of the second quarter of 2020. This adversely affected the overall economic environment and the consumer market which led to a decrease in the market demand in faux leather manufacturing industries such as apparel, footwear, handbags and luggage, home furnishings and sports equipment, and subsequently affected the faux leather chemicals manufacturing industry and the Group's revenue; and (2) the escalating tension between the United States (the "US") and the People's Republic of China (the "PRC") has affected the trade activities between US and PRC and the outlook and performance of the Group's downstream customers such as faux leather manufacturers who export their products to the US, which subsequently affected the faux leather chemicals manufacturing industry and the Group's revenue.