Century Ginwa Retail Holdings Limited provided group earnings guidance for the year ended March 31, 2020. The board of directors of the company inform shareholders of the company and potential investors that based on the preliminary review of the management accounts of the Group for the year ended 31 March 2020 and information currently available, it is expected that the Group will record a loss attributable to equity shareholders of the company of approximately RMB 1,185.0 million for the year ended 31 March 2020 as compared to a loss attributable to equity shareholders of the company of RMB 261.6 million recorded for the year ended 31 March 2019. Based on currently available information, the aforesaid significant increase in the loss attributable to equity shareholders of the company was mainly attributable to: a drop in revenue by approximately 39% attributable to the slowdown of the People's Republic of China retail market due to the outbreak of the coronavirus (COVID-19) and business diversion resulting from newly opened shopping malls and e-commerce channels in market; the provision for impairment of goodwill of approximately RMB 470.6 million due to the slowdown in the economic growth in the PRC since the outbreak of COVID-19 in early 2020. As a result of the measures that were implemented to control the spread of COVID-19, the shopping habit of the general public has been changed, resulting in the business operation of the Group being significantly impacted and it is expected that it will take time for the Group's business operation to fully recover. As such impairment is non-cash in nature, it will not have any material effect on the cash flow and the business operation of the Group; and an increase in provision for expected credit loss of trade and other receivables by approximately RMB 588 million, due to an increase in provision for expected credit loss of amounts due from a third party (a company engaged in prepaid cards management). The Third Party provides services in managing the sale and usage of customers' prepaid cards within the Group's department stores, shopping mall and supermarkets. According to the Company's assessment of the credit risk associated with the Third Party debts based on the information currently available, corresponding provisions have been made for the expected credit loss of amounts due from the Third Party in the financial statements for the year ended 31 March 2020. The Company is actively exploring and seeking effective ways to realise the recovery of the Third Party amounts, and will also continue to monitor the credit risk that the Group has to bear in relation to the abovementioned Third Party debts pursuant to the credit policies of the Company, and will make further disclosure in relation to relevant development as and when appropriate.