Shanghai Realway Capital Assets Management Co., Ltd. provided consolidated earnings guidance for the year ending December 31, 2019. For the period, the company expects to record a net profit of less than RMB 26.4 million for the Year as compared to the net profit of approximately RMB 46.5 million recorded for the year ended 31 December 2018, representing a decrease of not less than 43.2%. The expected decrease in net profits of the Group was mainly due to the decline in regular management fees charged by the Group as the Group has taken a more cautious approach in procuring new investment projects for its managed funds during the Year in order to handle the deteriorating private equity investors' sentiment due to macro-economic factors as set out in the Announcement; the Group took more time to commence investment projects during the Year due to the increasingly stringent vetting process relating to fund establishments during the Year as set out in the Announcement; and taking the forward-looking factors specific to the debtors and the economic environment into consideration, the Group has recognised a loss allowance regards to trade receivables based on lifetime expected credit losses as at 31 December 2019; and the decline in performance fee for the managed funds received by the Group as compared to that of approximately RMB 43.9 million for the year ended 31 December 2018 due to the fact that there was no planned exits from investment projects during the Year.