Watts International Maritime Engineering Limited provided earnings guidance for the eleven months ended November 30, 2020. The board of directors of the company announced that, based on the preliminary review of the unaudited consolidated management accounts of the group for the eleven months ended 30 November 2020 and the information currently available to the Board, the Board anticipates that the Group will record a decrease in profit attributable to shareholders for the year ending 31 December 2020 by approximately 45%-55%, as compared to the year of 2019, which is mainly due to, among other things, the impact of the outbreak of the novel coronavirus COVID-19 in the beginning of 2020. Such impact continued to spread around the world. In particular, it has caused complete stagnation in the Southeast Asian market since the middle of the 2020, resulting in the delay in work schedule of construction projects on hand and under construction of the Group in and outside China in 2020 and significant increase in construction cost of construction projects, including but not limited to the increased expenses on epidemic prevention for implementation of epidemic prevention measures and reduced construction efficiency; while certain newly awarded projects that were originally planned to start construction during the year also experienced delay in schedule.