Kasen International Holdings Limited provided earnings guidance for the six months ended June 30, 2020. The company expected that the Group will experience a substantial decline in a range of approximately 90% to 100% in its consolidated net profit attributable to owners of the Company for the six months ended 30 June 2020 as compared to the net profit of approximately RMB 227.8 million for the corresponding period in 2019. Based on the information currently available to the Board, such decline in the Group's result was principally attributable to the substantial decline in the delivery of residential buildings for the Group's property development projects in the PRC during the six months ended 30 June 2020 as compared with the corresponding period in last year; and the drop in revenue for the Group's manufacturing segment as a result of the outbreak of COVID-19 pandemic, which led to the decrease in sales orders from overseas customers, as well as the temporary suspension of the Group's PRC production factories during the period due to epidemic prevention requirements of the government, which contributed to a decline in order deliveries.