MTR Corporation Limited provided earnings guidance for the year ended December 31, 2020. The Board expects the Group to report a net loss attributable to shareholders of the Company of around HKD 4.8 billion (representing the midpoint of the estimated loss range of between HKD 4.6 billion and HKD 5.0 billion) for the year ended 31 December 2020, compared to a net profit attributable to shareholders of the Company of HKD 11.9 billion for the year ended 31 December 2019. The expected net loss of around HKD 4.8 billion (representing the midpoint of the estimated loss range of between HKD 4.6 billion and HKD 5.0 billion) is mainly due to: (i) as previously announced, the significant adverse impact of the on-going COVID-19 pandemic and the deterioration of the general economic environment on the Group's Recurrent Businesses (in Hong Kong and elsewhere), (ii) the revaluation loss on the Group's investment property portfolio, being a non-cash accounting item, which is expected to be around HK$9.2 billion for the year ended 31 December 2020, and (iii) as detailed in Section 2 below, a provision of HKD 1.4 billion made by the Group in its consolidated profit and loss account for the year ended 31 December 2020 in respect of the Shatin to Central Link project.