Feishang Anthracite Resources Limited provided earnings guidance for the six months ending 30 June 2020. The board of directors of the Company announced that based on a preliminary review of the latest unaudited consolidated management accounts of the Group (the "Unaudited Management Accounts") and the information presently available to the Board, the Group is expected to record a significant loss for the six months ending 30 June 2020 as compared to a profit recorded for the corresponding period in 2019. As disclosed in the 2019 annual report of the Company, the geological complexities of current mining faces encountered by the Group have led to a temporary decline in both quality and selling price of the Group's coal products. In addition, the recent outbreak of the COVID-19 pandemic and governmental control measures imposed to contain it have led to delays in production and weak market demand. Based on the information presently available to the Board, the above are the main causes of the expected loss of the Group for the first half of 2020.