Giordano International Limited provided earnings guidance for the year ended December 31, 2020. The board of directors of the Company announced that, based on the preliminary review of the unaudited consolidated management accounts of the Group for the year ended December 31, 2020, the Group expects to record an annual net loss attributable to shareholders in the range of HKD 110 million to HKD 130 million, as compared to a profit of HKD 230 million for the corresponding period in 2019. As stated in the Company's interim results announcement published on August 11, 2020, a net loss of HKD 175 million was recorded for the six months ended June 30, 2020. However, the Group expects to record a net profit of between HKD 45 million to HKD 65 million in the second half of the year due to the positive trend in retail sales and improvement in consumer sentiment. The forecasted net profit has not taken into account further potential asset impairment charges, if any. That said, the profitability is unable to turnaround the loss recorded for the full year.