The board of Modern Living Investments Holdings Limited announced that, based on its preliminary assessment of the unaudited management accounts of the Group and information currently available to the Board, a profit for the period to be recorded by the Group for the three months ended 31 March 2021 is expected to be not less than HKD 0.7 million, as compared with a loss of approximately HKD 0.5 million for the corresponding three months ended 31 March 2020. The Board believes the increase in profit during quarter as compared to the corresponding period in 2020 is mainly attributable to (i) increase in profit margin of new property management service contracts; and (ii) the upward adjustment on service fee for some of the Group's existing contracts in accordance with the adjustment mechanism as stipulated in those contracts.