E-House (China) Enterprise Holdings Limited provided earnings guidance for the year ended 31 December 2020. For the year, The board of directors of the Company informed the shareholders of the Company (the Shareholders) and potential investors that, based on a preliminary review of the Group's unaudited consolidated management accounts and the information currently available to the Board, the Group expects to record a profit ranging from approximately RMB 420 million to RMB 460 million for the Reporting Period, a decrease of not more than 57% from approximately RMB 971 million for the year ended 31 December 2019. The decrease in profit for the Reporting Period is mainly attributable to business disruptions caused by the outbreak of the 2019 novel coronavirus (COVID-19) pandemic and its negative impact on the macro-economy. Due to the COVID-19 pandemic, approximately 1,600 sales offices in Mainland China were closed in the first quarter of 2020 leading to a greater operating loss to the Group in the first quarter of 2020. The decrease in profit is also attributable to the increase in the Group's finance costs as a result of the issuance of senior notes by the Company in 2020 and new bank loans to support the expansion of operations. In the second half of 2020, since the impact of the COVID-19 pandemic has almost disappeared in Mainland China, the Group's operation has already recovered to its normal level.