Wheelock and Company Limited announced that based on the management information currently available to the Company including the latest unaudited management accounts of the Group for the three months ended 31 March 2020, its preliminary estimation that the Group expects a loss attributable to equity shareholders for the three months ended 31 March 2020 of approximately HKD 6 billion mainly due to the losses and/or reduced profitability of principal businesses and the effect of unrealized revaluation deficit or impairment of the Group's investment properties, development properties and hotels thus caused. The Group's financial performance in 2020 has so far been impacted mainly by the very weak economic environment and the extreme market and operating conditions caused by COVID-19 on the Group's business.