The board (the "Board") of directors of China Vanadium Titano-Magnetite Mining Company Limited informed the shareholders of the Company and potential investors that based on the preliminary review of the Group's unaudited consolidated management accounts for the six months ended 30 June 2020 ("1H2020"), the Group is expected to record a significantly lower net loss for the period ("Net Loss") of not more than RMB 25.0 million as compared to RMB 52.6 million for the last corresponding period.