China Jicheng Holdings Limited provides earnings guidance for the six months ended June 30, 2020. For the period, the company expects to record a net loss of not less than approximately RMB 4.0 million when compared with a net profit of approximately RMB 3.0 million for the six months ended 30 June 2019. The material decline in the financial performance of the Group were mainly due to the decrease in the sales volume during the six months ended 30 June 2020, as the demand for umbrella products has substantially declined as a result of the novel coronavirus (COVID-19) pandemic; the increase in selling and distribution expenses including marketing and promotion expenses to enhance its brand awareness.