The board of directors of Chinney Investments, Limited announced that, based on a preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 March 2020, the Group is expected to record a loss attributable to owners of the Company of approximately HKD 60 million for the year ended 31 March 2020 as compared to the profit attributable to owners of the Company of approximately HKD 781.4 million for the year ended 31 March 2019. Such expected loss was primarily due to: the expected fair value losses arising from revaluations of the Group's investment properties as at 31 March 2020 based on draft valuation reports perpared by the independent professional valuers, owing to the property market decline caused by the social unrest in Hong Kong and the outbreak of coronavirus (COVID-19) pandemic in early 2020. In contrast, the Group recorded fair value gains on investment properties of approximately HKD 930 million in the last corresponding year. The considerable decrease in the Group's revenue generated from the property sales due to the completion of the residential project in Guangzhou, Mainland China in prior years when most of the property units were delivered to customers and recognised as revenue, resulting in a comparatively decrease in property sales contribution for the year ended 31 March 2020.