The board of directors of the Shanghai Zendai Property Limited informed that the Group is expected to record a loss attributable to owners of the Company for the six months ended 30 June 2020. Based on the preliminary review of the management accounts of the Group and information currently available to the Company, this is mainly attributable to a decline in revenue and gross profit of about 55% and 30% respectively due to a decrease in properties being delivered and recognized as revenue during the Reporting Period as compared to the revenue and gross profit for the six months ended 30 June 2019. No significant change is expected for the loss attributable to owners of the Company for the Reporting Period as compared to the loss attributable to owners of the Company for the six months ended 30 June 2019 because of the decrease in finance costs, administration expenses and selling and marketing expenses incurred for the Reporting Period.