Hope Life International Holdings Limited provided preliminary earnings guidance for the year ended December 31, 2020. The company Group expects to record a net loss not less than HKD 6 million for the year ended 31 December 2020 as compared to the net profit amounted to HKD 8.2 million for the year ended 31 December 2019. Based on the relevant information currently available to the company, the board considers that the expected turnaround from net profit to net loss of the Group was mainly due to the increase in cost of sales and the increase in allowance for expected credit losses of the Group in the year ended 31 December 2020 and also the absence of gain from disposal of subsidiaries in the year ended 31 December 2019.