Ri Ying Holdings Limited provided group earnings guidance for the three months ended December 31, 2020. The board of the directors of the company inform the potential investors and shareholders of the company that, based on a preliminary review on the unaudited consolidated management accounts of the Group for the three months ended 31 December 2020 and information currently available to the Board, the Group recorded a net loss of approximately HKD 27.1 million for the three months ended 31 December 2020. The Group is expected to record a net loss for the six months ending 31 March 2021 as compared with a net profit of approximately HKD 21.4 million for the corresponding period in 2020. The Board considers that the expected turnaround from net profit to net loss was primarily attributable to the significant decrease in revenue mainly due to the prolonged negotiations between the Group and the customer on progress certification of works done for a large scale project with contract sum of over HKD 300 million; and the fact that two of the Group's sizeable projects with individual contract sum of over HKD 85 million were at the initial stage with lesser amount of works done recognized during the three months ended 31 December 2020.