Koufu Group Limited provided earnings guidance for the first half of 2020. For the period, The Group expected operating profits to be significantly lower than 2019 due to (i) the impact of COVID-19, and (ii) new outlets opened in 2019 that are still in their stabilisation phases and have yet to contribute positively. However, most of the government grants and rental rebates from landlords will be received in second quarter and third quarter 2020, and should, to a certain extent, mitigate the negative impact.