The Board of Directors of Hongkong Chinese Limited approved the change of the financial year end date of the Company from 31 March to 31 December (the "Change"). Accordingly, the next financial year end date of the Company will be 31 December 2020 and the next annual audited consolidated financial statements of the Group will cover the nine months from 1 April 2020 to 31 December 2020. The principal activities of the Group are carried out through its principal joint ventures and subsidiaries which were incorporated and are operating mainly in Singapore and the People's Republic of China with the financial year end date of 31 December in accordance with the relevant statutory requirements. The Change will enable alignment of the Company's financial year end date with that of the aforesaid principal joint ventures and subsidiaries. It will also enable streamlining of the preparation and audit of the Group's consolidated financial statements and reduction of relevant time and costs.