Good Friend International Holdings Inc. provided earnings guidance for the six months ended June 30, 2020. The company expects to record a loss attributable to owners of the Company of approximately RMB 96.00 million for the six months ended 30 June 2020; compared to the profit attributable to owners of the Company of approximately RMB 21.13 million for the same corresponding period in 2019. The expected loss was due to the increase in the share of loss of associates located in Germany, the operation of which during the corresponding period was affected by the outbreak of the coronavirus disease 2019 pandemic. Despite that, the share of loss of associates is a non-cash item and there will be no effect on the operating cash flow of the Group. Before including this item, the Group still recorded a profit of approximately RMB 14.00 million generated by the Group's PRC businesses for the six months ended 30 June 2020 under this tough operating environment. The Board therefore considers that the overall financial position of the Group remains solid.