The board of directors (the "Board") of CHTC Fong's International Company Limited announced that based on its preliminary review on the Group's management accounts, the Group expects to record a profit attributable to owners of the company between HKD 5,000,000 and HKD 10,000,000 for the year ended 31 December 2020 as compared to the profit attributable to owners of the Company of approximately HKD 169,000,000 for the corresponding period in 2019. The decrease in the Group's profit for the year was mainly attributable to the effect of the following two extraordinary items, namely relocation compensation received from the urban renewal project of the land in Shenzhen (in the form of resettlement and demolition compensation) in 2020 decreased by RMB 100,000,000 as compared with that of last year; and withholding the compensation of personnel resettlement incurred due to the relocation of production capacity to Zhongshan.