Vincent Medical Holdings Limited provided consolidated earnings guidance for the full year December 31, 2019. The board of directors of the company inform the shareholders of the company and potential investors that based on the preliminary review of the group's unaudited consolidated management accounts for the year ended 31 December 2019 and information currently available to the company, the Group is expected to record a decrease of about HKD 20 million or 65% in the profit attributable to owners of the company for fiscal year 2019 as compared to that for the year ended 31 December 2018. Despite the group's total revenue increased by HKD 14.2 million or 2.9%, the Board considers that the expected profit decrease was mainly attributable to the combined effects of the following factors: the absence of one-off write back of other payables (2018: HKD 3.9 million) for fiscal year 2019; the increase in selling and distribution expenses by HKD 4.4 million or 15.9%, mainly due to an increase in demand in premium delivery services from clients and the increased marketing expenses for new products; the increase in administrative expenses by HKD 12.8 million or 14.3%, primarily due to an increase in research and development ("R&D") expenses to progress the Group's R&D product pipeline and support new launches of "Inspired Medical" products, the relocation of sales and R&D offices to Dongguan Songshan Lake Science and Technology Industrial Park and the general increase in average salary and number of staff; and the impairment loss of goodwill and investments of around HKD 10 million (2018: HKD 2.6 million) for fiscal year 2019 based on the preliminary assessment and the final amount is subject to further evaluation.