The Board of Directors of AsiaPhos Limited announced that based on the currently available preliminary assessment of the draft unaudited consolidated financial results for the Group's third quarter ended 30 September 2020 ("3Q2020"), the Group is expected to report break-even for third quarter of 2020 and lower loss for the nine months ended 30 September 2020 compared to the corresponding period of third quarter for year 2019 and nine months ended 30 September 2019. For third quarter of 2020, the main reasons for the break-even is due to the write-back of allowance for trade receivables as the Company's subsidiary, Sichuan Mianzhu Norwest Phosphate Co Ltd, has managed to cash out the bills receivables that relating to SOE customer and lower general and administrative costs mainly due to lower provision for energy cost and depreciation in third quarter of 2020. The above guidance is based on a preliminary assessment made by the Company.