Maoye International Holdings Limited provided earning guidance for the year ended 31 December 2020. The company expects net loss for the year ended 31 December 2020 is expected to be approximately RMB 150 million to RMB 250 million, and without taking into account the effect of non-operating profits and losses, the net profit is expected to be approximately RMB 350 million to RMB 450 million. The main reasons for the expected net loss of the Group for Year 2020 were: affected by the novel coronavirus epidemic (COVID-19), the rents of comparable properties in the vicinity decreased, and the assessed fair value of the investment properties of the Group decreased accordingly; and since the beginning of 2020, the outbreak of the novel coronavirus epidemic (COVID-19) led to extensive damage to the department store industry. The human traffic in the Group's stores decreased significantly in the same period, thus resulting in a significant decrease in the operating sales revenue and profit of the Group's retail business.