The board of directors of the Cosmopolitan International Holdings Limited announced the unaudited consolidated management accounts of the group for the year ended 31 December, 2019, it is expected that the group will record a net loss of approximately HKD 170.0 million as compared to a net profit of HKD 201.9 million attained for the year ended 31st December, 2018. The net loss expected to be recorded by the Group for the year ended 31st December, 2019 is primarily due to the finance costs incurred as well as the fact that, although substantial contracted presales have been secured on the residential units in the third stage of the development in Chengdu, the People's Republic of China (the "PRC"), the profits that could be recognized from the sale of in the Group's development projects in Tianjin and Chengdu, the PRC during the year were relatively small, whereas in the preceding year, there was substantial profit contribution from the completed sales of the residential units in the Tianjin project.