Golden Ponder Holdings Limited provided unaudited consolidated earnings guidance for the year ended March 31, 2020. The company anticipated that the Group would record a net loss attributable to the shareholders of not less than approximately HKD 2 million for the Relevant Period as compared to a net profit attributable to the Shareholders of approximately HKD 16.8 million for the year ended 31 March 2019. The Board considers that the net loss was primarily attributable to the following combined effect of: (i) decrease in revenue recognized by the Group for the Relevant Period substantially due to the certain on-going projects were at their ending phase and the relevant revenue was already recognized in prior years which resulted in a reduction of revenue contributions; (ii) As the impact of the social incidents since June 2019 and the outbreak of novel coronavirus (COVID-19) epidemic in January 2020, the local economy has slipped into a technical recession since the third quarter of 2019 which have severely affected the construction industry and caused the decrease in the number of projects available for tender; (iii) decrease in gross profit margin due to loss being incurred in the variation orders of some completed projects; and (iv) increase in expected credit loss on certain long outstanding of account receivables. Despite the expected net loss attributable to the Shareholders for the Relevant Period, the Board is of the view that this will not have any material adverse impact on the financial position of the Group.