Willas-Array Electronics (Holdings) Limited provided unaudited earnings guidance for financial year 2020. The company expected that the Group shall record a consolidated net loss of approximately HKD 72.2 million for financial year 2020, which represents an increase of approximately 280% when compared to the consolidated net loss of approximately HKD 19.0 million for the financial year ended March 31, 2019. As stated in the interim report released on December 12, 2019, the Group recorded a consolidated net loss of approximately HKD 55.8 million for the first six months ended September 30, 2019. It is expected that the group shall record a consolidated net loss of approximately HKD 16.4 million for the second half of financial year 2020, which represents a substantially lower consolidated net loss when compared to the consolidated net loss incurred in first half of financial year 2020. The Board considers that the aforementioned reduction is mainly attributable to: (i) stock provision of approximately HKD 18.8 million was made for slow-moving inventories in first half of financial year 2020 while no stock provision would need to be made in second half of financial year 2020 since there were less aged inventories due to the Group's stock clearance efforts; (ii) there was a decrease in staff costs due to lower average headcount in second half of financial year 2020; and (iii) the Group has implemented stringent cost control measures in second half of financial year 2020.