Central Development Holdings Limited provided consolidated earnings guidance for the first quarter ended March 31, 2020. The board of directors of the Company announced the shareholders of the Company and potential investors that based on the preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 March 2020 and other information currently available to the Board, the Group expects to record a decline in the Group's revenue by approximately 30% to 35% and a decline in the Group's gross profit by approximately 75% to 80% for year 2020, as compared to the year ended 31 March 2019. This was mainly due to the unpredictable impact of COVID-19 (the novel coronavirus pneumonia) outbreak on the overall economic activities in the PRC and around the world, leading to a combination of the following to the Group: (i) an overall decline in sales orders of the Group's solar intelligent technology products in the PRC and the United States of America; (ii) a decrease in revenue from the provision of energy efficiency analysis and technical improvement advisory services on solar energy projects as the Group's downstream customers have delayed their works at the solar photovoltaic project sites after lockdown measures were taken by the government(s) of their respective jurisdictions; and (iii) a lower demand for the Group's products in the jewelry business due to restricted or limited business travelling of salespersons between Hong Kong and PRC, within PRC, or to a number of overseas countries for major international jewelry trade shows, which have been either cancelled or postponed and therefore significantly reducing sales opportunities.