The board of directors of China Cloud Copper Company Limited informed the shareholders of the Company and potential investors that, based on the information currently available to the Group, the Group is expected to record a loss of around HKD 300 million for the year ended 31 December 2019, as compared to a loss of around HKD 103 million for the corresponding period in 2018. The Board considers that the loss for the year is mainly attributable to: the increase in the interest of the convertible bonds issued by the Company by approximately HKD 7.5 million as compared with the corresponding period in 2018; and the impairment loss of approximately HKD 243 million on loan receivables, trade receivables and other receivables of the Group as their recoverability was severely undermined by the social unrest in Hong Kong in 2019 and the outbreak of the New Coronavirus throughout the world.