Hao Wen Holdings Limited provided unaudited consolidated earnings guidance for the nine months ended September 30, 2020. For the nine months, the company expected to record a net loss of not less than approximately RMB 1,000,000 for the nine months ended 30 September 2020 as compared with a net profit for the corresponding period in 2019. The aforesaid turnaround from profit to loss position was mainly due to the increase in allowance for expected credit losses.