Kin Pang Holdings Limited provided earnings guidance for the year ended December 31, 2021. For the year, the group expected to record an unaudited consolidated loss attributable to the owners of the Company of not less than MOP 19.5 million, as compared to the audited consolidated profit attributable to the owners of the Company MOP 12.9 million for the corresponding period in 2020. The Board considers that the Group is expected to record loss for the year ended December 31, 2021 primarily because of: downward pressure on the Group's tender price and hence gross profit margin in general as a result of intense market competition in the construction industry in Macau; the persistent and gradual increase in construction costs due to impact of COVID-19 on the global supply chain; and certain amounts of variation works performed during the year ended December 31, 2021 which have been under prolonged negotiations between the Group and the Group's customers but yet to be certified by the Group's customers.