The board of directors of Riverine China Holdings Limited informed the shareholders of the Company and potential investors that, based on a preliminary assessment of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2020 and the information currently available to the Board, it is expected that the Group's consolidated net profit for the six months ended 30 June 2020 will increase by not less than 40% as compared with that for the six months ended 30 June 2019. The increase in net profit was mainly due to (1) the result of financial consolidation of Hong Xin Environmental Group Co. Ltd.; (2) the effect of social insurance relief policy in the People's Republic of China during the COVID-19 outbreak; and (3) the partially offset impact of the one-off release of a tax provision of approximately RMB 3.3 million in the first half of 2019.