The board of Directors of Cheuk Nang (Holdings) Limited inform the shareholders of the company and potential investors that despite that the Group recorded significant increase in revenue of approximately HKD 574,634,000 and gross profit of approximately HKD 549,909,000 for the six months ended 31 December 2020 as compared to those for the six months ended 31 December 2019, the Group expected to record a loss attributable to the owners of the company of approximately HKD 62,110,000 for the six months ended 31 December 2020 as compared to the profit attributable to the owners of the company of approximately HKD 33,565,000 for the six months ended 31 December 2019. The expected net loss for the six months ended 31 December 2020 is mainly due to the change of fair value of the Group's investment properties (for the six months ended 31 December 2020: net loss on fair value change of HKD 147,554,000, for the six months ended 31 December 2019: net loss on fair value change of HKD 23,648,000) and increase in income tax (for the six months ended 31 December 2020: HKD 643,236,000, for the six months ended 31 December 2019: HKD 114,181,000).