The board of directors of China Qinfa Group Limited announced shareholders of the Company and potential investors that, based on information currently available to the Company and the preliminary review on the Group's unaudited consolidated management accounts for the six months ended 30 June 2019, the Group is expected to record a consolidated net profit attributable to owners of the Company for the six months ended 30 June 2019 not less than RMB 40 million, as compared to a net profit attributable to owners of the Company of approximately RMB 97 million for the six months ended 30 June 2018. The CCI China Coal Index 5000 indicated that the average coal selling price decreased by 12% as compared with the same period in last year. The decline in the consolidated net profit attributable to owners of the Company was mainly attributable to decrease of average coal selling price, partially offset by decrease in the fixed unit cost due to increase in the production volume of coal mines of the Group by 18%.