China Weaving Materials Holdings Limited provided unaudited consolidated group earnings guidance for the six months ending June 30, 2021. For the period, the group expects to record a consolidated net profit in comparison, the consolidated revenue and consolidated net loss for the six months ended June 30, 2020 was approximately RMB 557 million and RMB 13 million respectively. The expected consolidated net profit of the group for the period is mainly attributable to the increase in gross profit resulting from an increase in sales and gross profit margin of the group's yarn products. For the six months ended June 30, 2020, the sales volume and selling prices of yarn products were depressed due to the unfavourable market conditions brought upon by the massive outbreak of the COVID-19 pandemic and the downward pressure on pricing of polyester yarn products due to the falling prices of crude oil-related raw materials as a result of the collapse of crude oil prices in the first quarter of 2020. The favourable market conditions for yarn products have continued into the first four months of 2021 and resulted in the improvement in sales and gross profit margin of the yarn products of the group.