The board of directors of Tai Cheung Holdings Limited announced that, based on the preliminary review of the Group's unaudited consolidated management accounts for the year ended 31 March 2021 (the "Year"), it is expected the Group will record an increase in revenue of about 70% for the Year as compared to that of last year, while the Group will record a net loss attributable to equity holders of the Company of approximately HKD 28.0 million for the Year as compared to the net profit of HKD 124.7 million for last year. The Group expects a turnaround from profit to loss for the Year mainly attributable to the following reasons: the operating loss of approximately HKD 29.0 million for the Year primarily due to the fall in interest income as both the Group's bank balances and Hong Kong interest rates dropped during the Year; and the substantial decline by over 90% in the share of results of Consolidated Hotels Limited, which is an associate material to the Group, as a result of the adverse impact on hospitality industry since the outbreak of the COVID-19 pandemic. Despite the aforesaid, the Group's unaudited consolidated management accounts as at 31st March 2021 indicate that the Group has a strong cash position with very low gearing level. The Board considers that the overall financial position of the Group remains sound and solid. The Group will closely monitor and respond to the evolving COVID-19 situation. By adhering to its prudent approach, the Group will continue to adopt flexible strategies to cope with market volatility.