Based on the preliminary information currently available to the Minth Group Limited, the board of directors informed shareholders of the company and potential investors that, as compared to the profit attributable to the Shareholders for the six months ended 30 June 2019 of approximately RMB 894,123,000, the company expects the Net Profit for the six months ended 30 June 2020 is to decrease by 55% to 60%. The expected decrease in the Net Profit for the Review Period was mainly attributable to the outbreak of the Coronavirus Disease 2019 coupled with the pressure of price reduction of old products. During the Review Period, the quarantine measures of COVID-19 pandemic had a profound impact on the global economy. Thus the Group is expected to record an approximately 20% to 25% decrease in the revenue for the Review Period as compared to the Same Period Last Year. As a result, the Group's capacity utilization rate is significantly reduced. Additionally, the Group is still facing the pressure of price reduction of old products, as well as the United States imposes additional tariffs on Chinese export products, the Group's gross profit margin is expected to decline by 5% to 7% as compared to the Same Period Last Year.