MIE Holdings Corporation provided preliminary unaudited group earnings guidance for the six months ended June 30, 2021. For the period, the group expects to record a significant decrease in its net loss as compared with the consolidated net loss of RMB 834.5 million for the corresponding period in 2020. Based on the information currently available, the estimated net loss for the reporting period is expected to be in the range between approximately RMB 280 million (equivalent to approximately HKD 335,972,000) and RMB 330 million (equivalent to approximately HKD 395,967,000). The board considers that the reduction in expected net loss is mainly attributable to the following: a significant rise in net oil sales revenue (of approximately RMB 128.1 million as compared to first half of 2020) realized from operations in the People's Republic of China, mainly due to: the increase in the average realized crude oil prices for its PRC operations, which increased by about USD 16.23/barrel to USD 57.20/barrel during the reporting period as compared to first half of 2020; the increase in the group's oil sales volume. In accordance with the supplemental agreement for the production sharing contract regarding the Daan oilfield (Supplemental PSC) entered into between the group and PetroChina on June 4, 2020, the group shall invest in and drill a minimum of 268 wells within three years after the effective date of the Supplemental PSC. During the reporting period, the group drilled 62 new wells, compared with no new wells drilled in first half of 2020. As such, the capital expenditure during the reporting period increased significantly, and therefore the group received more investment recovery oil leading to a higher percentage of production allocation according to the petroleum contract; and the impairment charge of approximately RMB 529.0 million recognised in first half of 2020 was no longer required as there was no further impairment indicator as at June 30, 2021.