Wah Sun Handbags International Holdings Limited announced that, based on the preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 March 2020 and information made available to the Board as at the date hereof, the Group is expected to record a net profit in the range of HKD 9 million and HKD 13 million for the year ended 31 March 2020 as compared to the same period in 2019 of a net profit of approximately HKD 41 million. The drop in profitability was mainly attributable to the increase in the ECL Provision for impairment of trade receivables of approximately HKD 34 million.