The Board of Directors of United Global Limited. (the "Company", and together with its subsidiaries, the "Group") announced that, following a preliminary review of its unaudited financial results of the Group for the financial year ended 31 December 2019, the Group is expected to record a substantial increase in net profit for fiscal year 2019. The net profit for fiscal year 2019 as compared to the previous corresponding financial year ended 31 December 2018 is mainly due to a non-recurring gain on disposal of subsidiaries of USD 24.8 million; and gain on re-measurement of remaining stakes in joint ventures of USD 37.2 million.