Gold Peak Industries (Holdings) Limited provided earnings guidance for the year ended 31 March 2020. For the year, the company expected to record a substantial decrease in profit attributable to shareholders for the year ended 31 March 2020 by approximately 50% to 80% as compared to the year ended 31 March 2019. The expected decrease in the Group's net profit for the year ended 31 March 2020 was mainly attributable to the COVID-19 pandemic and the continued trade dispute between the United States and the People's republic of China. A summary of the key impacts of the COVID-19 pandemic on the Group's businesses is listed below: as part of the lockdown measures of relevant governments to slow down the spread of COVID-19, the Group's factories in PRC and Southeast Asia were shut down for an average of two to four weeks during the financial quarters ended 31 March 2020 ("4QFY2020") and ending 30 June 2020. After the factories resumed operation, many workers in the Group's PRC factories were further delayed by local travel restrictions which remained in effect. The resulting manpower shortages slowed the resumption of production, lowered output and reduced operating efficiency in fourth Quarter 2020 and first Quarter 2021. As at the date of this announcement, all of the Group's factories resumed normal operations, except the factory in Thailand, which is still affected by the international travel ban in Thailand; the lockdown and social distancing measures imposed by various countries also adversely affected the operations of the Group's major suppliers and customers and caused supply chain disruptions for the Group. Some customer orders were cancelled or pushed out due to reduced consumer demand caused by the lockdown and social distancing measures in many countries. This led to reduced production output and delays in product delivery during fourth Quarter 2020 and first Quarter 2021; and COVID-19 travel control measures imposed in various countries also adversely affected the Group's efforts in relocating some of its manufacturing operations to Southeast Asia as the management and technical support teams, as well as customers' representatives responsible for factory certification, could not travel to Malaysia and Thailand. In Vietnam, some new production equipment could not be commissioned after delivery. Delays in the Group's factory relocation plans will increase the Group's costs as a result of having to maintain dual manufacturing sites for a longer period than originally planned.