Chaowei Power Holdings Limited announced that, based on the latest available information and a preliminary review of the consolidated management accounts of the Group for the year ended 31 December 2019, it is currently expected that profit attributable to owners of the Company will not be less than RMB 550 million, as compared to the profit attributable to owners of the Company of approximately RMB 413 million for the year ended 31 December 2018. The increase is primarily due to the increase in gross profit margin, mainly attributable to the decrease in costs.