China Shenghai Food Holdings Company Limited provided earnings guidance for the year ended December 31, 2019. For the year, the company expected to record a decrease in profit of not less than 50% as compared to the profit of approximately RMB 76.4 million recorded for the year ended 31 December 2018. The Board considers that such decrease in profit was mainly attributable to the decrease in demand from the customers of the Group for its products and the increase in raw materials costs.