GHW International provided unaudited consolidated earnings guidance for the six months ended June 30, 2021. For the six months, the Group expects to record a profit attributable to owners of the Company of approximately RMB 27 million for the six months ended 30 June 2021, compared to a loss attributable to owners of the Company of approximately RMB 700,000 for the six months ended 30 June 2020. The expected profit attributable to owners of the Company for the six months ended 30 June 2021 was mainly attributable to an increase in gross profit as a result of the good performance in the operations in the People's Republic of China after recovery from the outbreak of the COVID-19 pandemic in 2020, partially offset by the increase in (i) selling and distribution expenses, administrative expenses and research and development expenses due to the increasing operating scale; (ii) write-off of property, plant and equipment resulted from the termination of production in the Xuzhou production plant and centralized production functions in Tai'an; and (iii) net exchange loss mainly as a result of depreciation of US dollar against Renminbi.