Grand Ming Group Holdings Limited provided group earnings guidance for the year ended 31 March 2020. The Group is expected to record a drop in net profit for the Year by approximately 70% to 80% as compared with that for the year ended 31 March 2019 (the "Previous Year"). The Board considers that the drop in net profit is mainly attributable to the following reasons: A fair value loss for the Year on the investment properties expected to be recorded as compared to a fair value gain for the Previous Year, and Increase in selling expenses, primarily because advertising and marketing expenses incurred in the sales campaign of the Grand Marine (a residential project under construction located at Sai Shan Road, Tsing Yi) were accounted for in the Group' consolidated profit and loss account for the Year, whereas the sales proceeds received will be reflected in the Group's consolidated profit and loss account at the point in time when such project is completed.