Simplicity Holding Limited announced that after preliminary review by the Company's management of the unaudited management accounts of the Group and assessment of the information currently available, the board of directors of the Company announced that the Group is expected to record a loss and total comprehensive expense of not exceeding HKD 14.8 million for the three months ended 30 June 2019 compared with a loss and total comprehensive expense of approximately HKD 1.4 million recorded by the Group for the three months ended 30 June 2018. The loss for the Period was mainly attributable to the decrease in revenue amounted to approximately HKD 3.0 million, the loss on disposal of fixed assets for Mongkok Beefst and Mongkok Haha Prawn Mee amounted to approximately HKD 4.9 million, the share of loss in a joint venture amounted to approximately HKD 4.7 million and the increase in staff costs amounted to approximately HKD 1.7 million.