Kingboard Laminates Holdings Limited (the "KBL ") informed shareholders and potential investors of KBL that, based on the preliminary review of the unaudited management accounts of the KBL Group for the six months ended 30 June 2020 (Reporting Period) and the information currently available to the KBL Board, the KBL Group is expecting to record a decrease in net profit of approximately 30% to 35% in the Reporting Period as compared with the corresponding period last year. The expected decrease in the net profits of the KBL Group in the Reporting Period is primarily attributable to the unrealised loss on fair value changes of equity instruments at fair value through profit or loss and the decrease in the interest income from debt instruments, and is, to a lesser extent, attributable to the challenging business environment posed by the COVID-19 pandemic during the first half of 2020.