China Uptown Group Company Limited provided earnings guidance for the year ended December 31, 2020. For the period, the company expects that the group's revenue decreased by approximately 66% as compared to the year ended December 31, 2019 and would have record an unaudited loss attributable to owners of the company between RMB 5 million to RMB 10 million as compared with the audited profit attributable to owners of the company of approximately RMB 74,184,000 for year ended December 31, 2019. The expected decrease of the revenue and results of the company were mainly attributable to the the decrease in revenue from sales of properties in the current year as compared to 2019, the completions, higher amount of deliveries and sales recognised of phase 3 of the company's properties development project in Maoming in 2019, and decrease in the fair value of investment properties of the company amounted to approximately RMB 10 million due to the adverse effects of the global outbreak of COVID-19.