Hanvey Group Holdings Limited provided consolidated earnings guidance for the year ended December 31, 2019. For the year, the company expected to record a net loss attributable to the owners in the range of HKD 14 million to HKD 15 million for the year ended 31 December 2019 as compared with the net loss attributable to the owners of approximately HKD 7 million for the year ended 31 December 2018. The Board considers that such loss is mainly due to, among others, (i) the decline in gross profit of the Group due to increase in cost of sales, which the Group was not able to pass on to customers due to the increased competition in the industry, especially during the US-China trade war; (ii) the increase in staff cost as a result of, among others, increment of salaries and distribution of bonus to staff; (iii) the increase in legal and professional fees due to the listing status of the Company; (iv) the increase in entertainment expenses resulting from the need for the Directors to travel more in order to actively pitch for orders and reach out to potential customers due to the increase of competition in the industry; (v) the loss from investment in the stock market; and (vi) increase in the Group's charitable donation.