The board of directors of Hung Hing Printing Group Limited informed the shareholders of the Company and potential investors that, based on the preliminary review of the Group's unaudited management accounts for the year ended 31 December 2019 and information currently available to the Board, the Group expects to turn profitable by approximately HKD 64 million as compared to a net loss of HKD 72 million recorded by the Group last year. The expected turnaround is mainly attributed to the improved gross profit margin due to: (a) pricing of papers experienced moderate downward pressure and relatively more rational adjustments following certain hikes seen in 2018; (b) favourable currency exchange movements on operating costs; and (c) effective control of labour cost. These factors, combined with rationalization of orders portfolio for value enhancement, prudent inventory strategies, and increased efficiencies due to automation and enhanced workflow design, allowed to achieve positive change in bottom-line results.