Risecomm Group Holdings Limited provided earnings guidance for the six months ended June 30, 2020. For the period, the Group is expected to incur a net loss of not less than RMB 50 million for the six months ended 30 June 2020 as compared with the net loss of approximately RMB 41 million for the corresponding period in 2019. Based on the information currently available to the Board, the net loss for the six months ended 30 June 2020 is mainly attributable to the following factors: the Group experienced (a) a decrease in demand for the Group's power line communication (PLC') based narrowband automated meter reading (``AMR'') products by State Grid Corporation of China (State Grid'); and (b) a delay in debut of the Group's PLC based broadband AMR products given the testing and processing time for the final approval run by the State Grid had taken longer than expected due to the outbreak of the coronavirus (COVID-19) pandemic in the People's Republic of China in early 2020. Such delay in debut of the Group's PLC based broadband AMR products led to a decrease in revenue generated from the Group's AMR products under the centralized biddings conducted by State Grid and customers under State Grid local biddings and trading sales for the six months ended 30 June 2020 as compared to that of the corresponding period in 2019. Therefore, the Group recorded a significant decrease in revenue and gross profit in the AMR and other business segment of the Group for the six months ended 30 June 2020 as compared to that of the corresponding period in 2019; and an increase in general and administrative expenses for the six months ended 30 June 2020 as compared to that of the corresponding period in 2019 which is primarily attributable to impairment loss on trade receivables which are long aged and considered impaired.