China Renaissance Holdings Limited provided consolidated earnings guidance for the year ended December 31, 2019. Based on the preliminary review of the unaudited consolidated management accounts of the Group for a year ended December 31, 2019, the Group expects to record a profit for the period attributable to owners of the Company of approximately USD 35.8 million (approximately RMB 246.8 million) for the year ended December 31, 2019, as compared to a loss of approximately USD 244.1 million (approximately RMB 1,619.4 million) for the corresponding period in 2018. Such turnaround from loss to profit of the Group is mainly attributable to USD 292.3 million (approximately RMB 1,939.4 million) of change in fair value of convertible redeemable preferred shares for the year ended December 31, 2018.