GHW International provided earnings guidance for the year ended December 31, 2021. For the year, the group expected to record a profit attributable to owners of the Company of not less than RMB 120 million, compared to a loss attributable to owners of the Company of approximately RMB 5 million for the year ended December 31, 2020. Based on the information currently available, the expected profit attributable to owners of the Company for the year ended December 31, 2021 was mainly attributable to the increase in gross profit as a result of the good performance of operations in the People's Republic of China after the recovery from the outbreak of the novel coronavirus (COVID-19) pandemic, partially offset by the increase in selling and distribution expenses, administrative expenses and research and development expenses due to the increasing operating scale; losses on disposals of plant and equipment mainly resulted from the termination of production in Xuzhou production plant and centralisation of production functions in Tai'an; and finance costs due to the increase in average bank and other borrowings balance, including bank issued bill receivables discounted to banks, and loans from a related company during the year.