The board of directors of Guangnan (Holdings) Limited informed the shareholders of the company and potential investors that, based on the company's preliminary review of the management accounts of the Group for the year ended 31 December 2019, the consolidated profit attributable to shareholders of the Company for the year ended 31 December 2019 is expected to be decreased by approximately 60% as compared to that for the corresponding period in 2018, primarily attributable to the net effect of (i) the value of investment properties held by the Group remained stable for the year as compared to the valuation gains on investment properties of HKD 65,247,000 recorded in the corresponding period last year.