MIE Holdings Corporation provided group earnings guidance for the six months ended June 30, 2020. For the six months period, the company announced that, based on the information currently available to the board including the preliminary assessment of the latest unaudited management accounts of the Group for the six months ended June 30, 2020, it is expected that the group will record a material increase in its net loss as compared to the corresponding period in 2019. Based on the information currently available, the estimated net loss for the six months ended June 30, 2020 is expected to be in the range between approximately RMB 750 million (equivalent to approximately HKD 841,125,000) and RMB 900 million (equivalent to approximately HKD 1,009,350,000), which is mainly attributable to the following factors: The significant drop in crude oil prices leading to a drop in net oil sales revenue realized from the company's China operations. The average realized oil price for the company's China operations in the period dropped by about USD 17/barrel compared to the first half of 2019. An expected impairment losses from property, plant and equipment and intangible assets of the Group in the PRC as a result of the significant decline in crude oil prices in the first half of 2020.