The board of directors of the Shanxi Changcheng Microlight Equipment Co. Ltd. informed the shareholders and potential investors of the company that based on the preliminary review of the latest unaudited management accounts of the Group, the Group is expected to record an increase in loss for the year ended 31 December 2020 as compared to that of the previous financial year due to the significant impact on the Group's business due to the slow recovery of commercial and industrial activities due to the impact of the outbreak of COVID-19 pandemic. The company expected to report loss within a range from RMB 25.5 million to RMB 28.5 million as compared with loss of approximately RMB 8.12 million for the year ended December 31, 2019.