The board of directors of Hong Kong Food Investment Holdings Limited provided that, based on the preliminary review of the unaudited consolidated management accounts of the Group, it is expected that the Group's results for the year ended 31 March 2021 will be between a loss of HKD 5 million and a profit ofHKD 5 million attributable to equity holders of the Company (before taking into account of the impairment and provisions, if any, that may be required to be made by the associates and the Group) as compared to a loss attributable to equity holders of the Company of approximately HKD 24 million for the year ended 31 March 2020. The expected improvement in the results is primarily attributable to (i) the decrease in operating costs and general and administrative expenses; and (ii) the expected increase in the share of profits from associates for the year ended 31 March 2021.