The board of directors of Neusoft Education Technology Co. Limited announced that based on the preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 December 2020 and the information currently available to the Board, it is expected to record a decrease of approximately 45% in the profit for the year ended 31 December 2020 as compared to the corresponding period in 2019. The decrease is mainly The decrease is mainly due to (a) the substantial amount of listing expenses as a result of the listing of the Group on the main board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") in September 2020 (the "Listing"); (b) the large amount of share option cost as a result of the adoption of the pre-IPO share incentive scheme in June 2019 and the granting of share options in 2020 by the Group; and (c) foreign exchange losses arising from the depreciation of Hong Kong dollars owned by the Group, mainly the proceeds from the IPO of the Company, against Renminbi.