CAA Resources Limited provided earnings guidance for the year ended December 31, 2020. The Group is expected to record a loss of not less than USD 30 million and not more than USD 40 million for the year ended 31 December 2020, compared to a loss of approximately USD 57.1 million for the year ended 31 December 2019. The loss in fiscal year 2020 was mainly attributable to a reduction of over 95% of the revenue of the Group during fiscal year 2020 from approximately USD 1,055 million in fiscal year 2019 to approximately USD 28 million in fiscal year 2020 as a result of the financial difficulties faced by the Group and its clients under the challenging economic environment which is due to, among others, the impact of COVID-19, which is partly set-off by the reversal on impairment loss on investment in associate in which the Group recorded a gain of approximately HKD 3.6 million as compared to a loss of approximately USD 31.6 million in fiscal year 2019.