Pioneer Global Group Limited provided consolidated earnings guidance for the year ended March 31, 2020. The company board expects that the net profit attributable to the shareholders of the company will record a decrease of over 92% for the year ended 31 March 2020 as compared to that for the year ended 31 March 2019. While the rental income and operating profit of the Group's investment properties remained stable throughout the year ended 31 March 2020, the decrease in profit is primarily due to: (a) the lower recorded fair value increase of investment properties of HKD 50.9 million for the year ended 31 March 2020 as compared to HKD 366.5 million in previous financial year. The board wishes to state that such fair value change is non-cash in nature, and it will not affect the operating cash flow of the company; and (b) the recorded share of losses of hotel associates of HKD 215.2 million as compared to share of profits of HKD 161.9 million in previous financial year, which was mainly caused by social movements in Hong Kong and/or the impact of the coronavirus pandemic.