GR Properties Limited provided earnings guidance for the year ended 31 December 2020. The board of directors of the company wishes to inform the shareholders of the Company and potential investors that the Group is expected to record a break even for the year ended 31 December 2020, as compared to the profit attributable to Shareholders of approximately HKD 98.6 million in the corresponding period in 2019. The decrease of profitability is mainly attributable to i) increase in finance costs for the year ended 31 December 2020 as a result of additional interest expense incurred on a quasi-loan equity contributed by a joint venture partner of a subsidiary, which was acquired in the second half year of 2019; and ii) decrease in the remeasurement gain upon transfer of certain properties held for sale to investment properties as compared to that recorded in 2019 as a result of less number of additional properties transferred to investment properties for rental purposes in the People's Republic of China during the year ended 31 December 2020 under negative impact of outbreak of COVID-19.