Xinming China Holdings Limited revised consolidated earnings guidance for the year ended December 31, 2020. The Board wishes to update the Shareholders and potential investors of the Company that, based on the preliminary assessment of the latest unaudited consolidated management accounts of the Group and the latest information available to the Company, the Group is expected to record a loss attributable to owners of the Company for the year ended 31 December 2020 of an amount not more than RMB 1.07 billion (the 'Updated Profit Warning''). The increase in the amount of expected loss compared to the one previously stated in the Profit Warning Announcements is primarily attributable to an additional provision for the interest penalty of approximately RMB 305 million in relation to certain in default borrowing for the year ended 31 December 2020.