The board of directors of Emperor Watch & Jewellery Limited that the shareholders and potential investors of the Company that based on the preliminary review on the available financial information of the Group, the Group expects to record a substantial decrease in net profit for the year ended 31 December 2019 (the "Year") as compared with that for the last financial year ended 31 December 2018 (the "Last Year"). Excluding the depreciation charge of its self-owned store and subject to further assessment on potential impairment, the net profit as adjusted for the Year is expected to decrease by not more than 40%, as compared with that for the Last Year. Such decrease of adjusted net profit is mainly attributable to a significant decline in sales revenue in Hong Kong as a result of falling visitor arrivals and dampening consumption sentiment in relation to local social issues in the second half of 2019.