VCREDIT Holdings Limited provided earnings guidance for the six months ended 30 June 2020. The board of directors of the Company (the "Board") wishes to advise shareholders of the Company ("Shareholders") and potential investors in the securities of the Company that, based on a preliminary review of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2020 (the "Period"), the Group is expected to report a net loss in the range of RMB 890 million to RMB 1,090 million, and an adjusted net loss(1) in the range of RMB 850 million to RMB 1,050 million for the Period, as compared to a net profit of RMB 6.2 million and an adjusted net profit(2) of RMB 192.8 million for the corresponding period in 2019. The expected loss for the Period is due mainly to the adverse impact of the COVID-19 pandemic on the business and operations of the Group during the Period which has resulted, in particular, in (i) an increase in a fair value loss in the Group's loan portfolio and (ii) an increase in delinquency rates for loan repayments.