The board of directors of the FIT Hon Teng Limited informed the shareholders of the company and potential investors that, based on a preliminary assessment of the unaudited consolidated management accounts of the Group for the year ended December 31, 2020 ("FY2020") and other information currently available to the Company, it is expected that the Group remains profitable from continuing operations for FY2020. However, the net profit attributable to owners of the company for FY2020 is expected to decrease from that for the year ended December 31, 2019 by more than 50%. The decrease in net profit was mainly due to the continuing impact of the COVID-19 global pandemic during 2020 as described in the profit warning announcements of the company dated April 17, 2020 and July 7, 2020, and possible adjustments for fair value changes and income tax expenses in the fourth quarter of 2020. In view of the evolving nature of the COVID-19 outbreak, market demand for the Group's products remains uncertain.