GME Group Holdings Limited announced preliminary assessment of the unaudited consolidated management accounts of the Group for the three months ended March 31, 2019 and other information currently available to the Company, the Group expects to record a substantial decline in its financial performance and anticipates to report a net loss for the three months ended 31 March 2019 as compared to the net profit for the three months ended 31 March 2018. The Board considers that such change from net profit to net loss is mainly attributable to: a significant decrease in revenue for the Reporting Period of around 50% due to the substantial completion of major infrastructures projects in late 2018 and the newly awarded public tunnel construction project of the Group during the Reporting Period has just commenced in March 2019; a substantial decrease in gross profit margin due to the generally lower profit margins of work performed on non-tunnel construction projects during the Reporting Period as compared to the tunnel construction projects in the corresponding period in 2018; and increasing competition in the construction market which resulted in lower profit margins for the projects in 2019.