The board of directors of StarGlory Holdings Company Limited announced that based on a preliminary assessment of the unaudited consolidated management accounts of the Group for the year ended 31 March 2020 and the information currently available to the Board, the Group is expected to record a substantial decrease in loss of approximately 68% to 72% for the year ended 31 March 2020 (the "Reporting Period") as compared to the loss for the year ended 31 March 2019.