Anchorstone Holdings Limited provided consolidated earnings guidance for the year ended 31 December 2020. The Group is expected to record a significant decrease in revenue by over 50% and a significant decrease in the net profit attributable to Shareholders (the Profit Decrease). As a result, the Group is expected to record a net loss of approximately HKD 32 million to HKD 36 million for the year ended 31 December 2020 (the Net Loss), as compared with the profit for the corresponding period in 2019. The Profit Decrease and Net Loss was mainly due to (i) the worsen of the impact of Coronavirus Disease (the COVID-19) in the year caused delaying in the progress of most of the stone supply and installation services projects undertaken by the Group. As a result, the Group is expected to record a decrease in gross profit for approximately HKD 24 million as compared with the gross profit for the corresponding period in 2019; and (ii) the provision for loss allowance of the contract assets, trade and retention receivable of approximately HKD 25 million for certain projects based on the impairment assessment by management.