The board of directors Chong Sing Holdings FinTech Group Limited announced that based on preliminary assessment of the information currently available, it is expected that the results of the Group for the year ended 31 December 2018 may record a loss as compared to a profit for the corresponding period in 2017. Based on preliminary assessment of the information currently available to the Company, the Board believes that the expected loss was due to a significant decrease in the transaction volume on key online consumer lending platform as compared to 2017; a significant worsening market condition as well as a significant impairment in investment in relation to the blockchain segment as a result of the Company's discontinuation of the crypto mining and hardware related businesses and refocus in blockchain software development; and a significant increase in provision for the loan receivable in traditional loans and financing business due to the adoption of Hong Kong Financial Reporting Standard 9 - Financial Instruments and the volatile economic environment.