Add New Energy Investment Holdings Group Limited provided consolidated earnings guidance for the six months ended 30 June 2020. The company is expected that the Group will record a net profit of approximately RMB 18 million for the six months ended 30 June 2020, which shows a significant improvement from the loss of approximately RMB 27 million in the same corresponding period last year. The improvement in the results are mainly due to (1) the increase in the Group's revenue from approximately RMB 152 million in the same corresponding period last year to approximately RMB 343 million for the six months ended 30 June 2020, which is more than a double, inter alia, the soar in market price of iron concentrates products and spodumene, improved the effectiveness of operation, increased the gross profit margin to approximately 11%; (2) the government grants of approximately RMB 8 million remediation subsidy; and (3) the gain on disposal of property, plant and equipment of approximately RMB 8 million.