Mulsanne Group Holding Limited provided consolidated earnings guidance for the year ended December 31, 2019. The company inform the shareholders of the company and potential investors that, based on a preliminary assessment of the unaudited consolidated management accounts of the Group for the year ended 31 December 2019 and the information currently available to the Group, it is expected that the net profit of the Company for the year ended 31 December 2019 would decrease by approximately 40% to 45% as compared to that for the year ended 31 December 2018. The major reasons for such decrease include: decline in customer flow in some shopping areas led to loss in certain offline stores; one-off inventory loss as the Group reduced the levels of unsold inventory across its distribution network in light of the prevailing retail environment; and one-off loss caused by closing direct sales stores, including deposit deduction and depreciation of residual value.