Qinqin Foodstuffs Group (Cayman) Company Limited provided unaudited consolidated earnings guidance for the year ended December 31, 2020. For the year, the company expected that the Group may record an increase in revenue and gross profit for the year ended 31 December 2020 as compared to 2019 by approximately 15% and 3%, respectively. The increase in revenue and gross profit was due to the increase in overall sales volume, which was mainly attributable to the Group's continuous adjustments on product mix and sales strategies, its focus on new products development to enrich the product portfolio, and the development of e-commerce business. Despite the fact that the Board expects increases in revenue and gross profit in 2020, the consolidated net profit of the Group for the year ended 31 December 2020 is expected to substantially decrease approximately by 80% as compared to 2019.