In the coming year, Evergreen Products Group Limited will establish new wholesale offices in Asian countries for selling high-end human hair extensions under self-owned brands. Furthermore, the Group will put more effort on expanding e-commerce platforms. On average, the retail price level of products is around 300% higher than factory price level. Having effective execution of these direct sales strategies, the gross profit margin and net profit of the Group are expected to elevate to the next higher level.

The recent outbreak of the COVID-19 disease and the subsequent quarantine measures imposed by the PRC government as well as the travel restrictions imposed by other countries in early 2020 has had no material impact on the operations of the Group up to the date of this announcement. However, given the unpredictability associated with the COVID-19 global outbreak and any further contingency measures that may be put in place by the relevant governments and corporate entities, the Group expects that the outbreak of the COVID-19 disease may affect the consolidated results of the Group for the remaining quarters of 2020.