Wenzhou Kangning Hospital Co., Ltd. provided earnings guidance for the year ended December 31, 2019. Based on the currently available unaudited management accounts of the Group and the preliminary assessment by the Company's management, it is expected that the Group's profit before tax for the year ended December 31, 2019 will decrease by approximately 30% ­ 50% compared to the year ended December 31, 2018. The expected decrease in profit before tax is primarily attributed to a decrease in the average inpatient spending per bed-day of the Group's owned hospitals in 2019.