The board of directors of Lai Si Enterprise Holding Limited announced that based on a preliminary review of the Group's unaudited consolidated management accounts for the year ended 31 December 2020 and information currently available to the Board, the Group is expected to record an unaudited consolidated loss attributable to the Shareholders of not less than MOP 75.0 million as compared to the audited consolidated profit attributable to the Shareholders MOP 6.4 million for the corresponding period in 2019. The Board considers that the opposite turn from the audited consolidated profit attributable to the Shareholders to the unaudited consolidated loss attributable to the Shareholders was mainly attributable to (1) significant decrease in revenue for the year ended 31 December 2020 of not less than 38.0% as compared with MOP 262.9 million of the corresponding period in 2019, which was mainly due to the novel coronavirus ("COVID-19") outbreak which lead to poor economic environment in the overall fitting-out and construction industry in Macau and Hong Kong; (2) gross profit margin was greatly diminished due to the COVID-19 outbreak; and (3) provision on financial and contract assets of not less than MOP 60.0 million in consideration of the existing market condition after management consideration.