China Glass Holdings Limited provided Group earnings guidance for the year ended 31 December 2020. The board of directors of the company informed the shareholders and potential investors of the company that, according to its preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 December 2020 and other information currently available, the Group expects to record a loss of not more than RMB 100 million for the year ended 31 December 2020, as compared to a net profit of approximately RMB 72.70 million recorded for the year ended 31 December 2019. The loss recorded by the Group for the year ended 31 December 2020 was mainly attributable to the combined effects of, among others, (i) a net gain amounting to approximately RMB 221.21 million during the year ended 31 December 2019 was from the government compensation for relocation of production plants and no such event happened during the year ended 31 December 2020; and (ii) the amount of impairment losses recognised on the Group's trade and other receivables increased to approximately RMB 122.74 million as compared to RMB 20.53 million for the year ended 31 December 2019, which was mainly due to the outbreak of the novel coronavirus ("COVID-19") that affected the repayment abilities of the Group's debtors. Except for the above-mentioned impacts, the Board is of the view that the outbreak of COVID-19 did not cause material adverse impacts on the production and operation of the Group. The Group's business operations continued to run steadily, and both revenue and gross profit for the year ended 31 December 2020 increased significantly as compared to the year ended 31 December 2019.