The board of directors of Giordano International Limited announced that, based on the preliminary review of the latest unaudited consolidated management accounts of the Group and the information currently available to the Board, as compared to the profit attributable to shareholders of HKD 161 million for the corresponding period in 2019, the Group expects to record a net loss attributable to shareholders for the six months ended June 30, 2020 of between HKD 170 million to HKD180 million. The expected loss for the current period includes an exceptional impairment provision of right-of-use assets and property, plant and equipment of approximately HKD 70 million (2019: Nil). The expected loss reflects the severe adverse impact of the unprecedented COVID-19 pandemic and ancillary quarantine, lockdowns and social distancing and protective measures put in place globally.