Weiqiao Textile Company Limited provided group earnings guidance for the six months ended 30 June 2019. The board of directors of the company informed the shareholders of the company and the potential investors that, based on the unaudited management account, it is expected that there would be a significant decrease in the interim operating results of the group for the six months ended 30 June 2019 as compared to the corresponding period of 2018, the main reasons for which are: despite that the electricity business of the Group maintained stable operation during the first half of 2019, as the global economy experienced sluggish growth with weakened market consumption due to several adverse factors such as the emerging trade protectionism, the overall textile industry was under great pressure due to sluggish market demands in the Chinese cotton textile product market, imposing negative impacts on the gross profit and gross profit margin of the Group; and staff costs of the group recorded an increase as compared with that of the corresponding period last year as the group continued to improve employee benefits by offering further salary raise during the first half of 2019.