The board of directors of Miko International Holdings Limited announced that, based on the preliminary assessment of the information currently available: the Board expects to record a significant decrease in revenue by approximately 25% for the six months ended 30 June 2020 as compared to the revenue for the six months ended 30 June 2019; and the Board expects to record a significant decrease in net loss by approximately 60% for the six months ended 30 June 2020 as compared to the net loss for the six months ended 30 June 2019. The decrease in revenue for the six months ended 30 June 2020 was primarily due to the low demand of the consumer market resulting from the outbreak of coronavirus globally ("COVID-19") during the period. The decrease in net loss for the six months ended 30 June 2020 was primarily due to the sharply decrease in bad debts written off on trade receivables, selling and distribution expenses and administrative and other operating expenses as a result of the stringent control measures during the period.