Zhejiang Shibao Company Limited announced earnings guidance for the first quarter of 2020. The company expects that the net profit attributable to shareholders of listed company for the three months from 1 January 2020 to 31 March 2020 is between RMB 0 and negative RMB 10,000,000. Due to the outbreak of COVID-19 since early 2020, strict travel restriction was imposed in most areas across China during late January to late March. Being affected by such negative factor, market demand for automobiles was dampened and the operation of the upstream and downstream enterprises of the automobile industry was impacted, leaving the Company under great operation pressure. For the above reasons, the Company expects that a net loss will be recorded for the first quarter of 2020.