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 three months ended 30 June 2020 (the "Reporting Period") and the information currently available to the Board, the Group is expected to record a profit attributable to owners of the Company within the range of HKD 0.4 million to HKD 0.8 million for the Reporting Period, while the unaudited loss attributable to owners of the Company for the three months period ended 30 June 2019 was approximately HKD 4.1 million. The Board considers that the turnaround from loss to profit during the Reporting Period was mainly because (i) there is a decrease in the number of under-performing restaurants as the Group reviewed the performance of restaurants and consolidated under-performing restaurants to further enhance the structure and reduce unnecessary expenses since the financial year ended 31 March 2020; and (ii) the Group received subsidies from the Anti-epidemic Fund from the government of the Hong Kong Special Administrative Region in the sum of approximately HKD 3.7 million for the Group's businesses in Hong Kong during the Reporting Period.