The board of directors of Weiye Holdings Limited informed the shareholders of the Company and potential investors that, based on its preliminary review of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2020 and information currently available to the Board, it is expected to record a loss attributable to owners of the Company of approximately RMB 90 million for the six months ended 30 June 2020 as compared to a profit attributable to owners of the Company of approximately RMB 13 million for the six months ended 30 June 2019. Such expected decrease in profit is mainly attributable to decrease in revenue of property development segment of the Group as a result of the outbreak of COVID-19 which affect the property handover schedule and postpone revenue recognized during the period.