Lai Fung Holdings Limited provided earnings guidance for the nine months ended 30 April 2020. Based on the latest management information currently available to the Company, including the unaudited consolidated loss attributable to the owners of the Company of approximately HKD 700 million for the nine months ended 30 April 2020, and an assessment of the deteriorated market conditions and the business disruptions of the Group caused by the outbreak of the COVID-19, the board of directors of the Company wishes to inform shareholders of the Company and potential investors that the Group is expected to record a consolidated loss attributable to the owners of the Company for the year ending 31 July 2020 as compared to a consolidated profit of HKD 668.6 million for the year ended 31 July 2019. Such decline in the Group's results is primarily due to the decrease in valuations of properties owned by the Group.