Sincere Watch (Hong Kong) Limited provided earnings guidance for the year ended March 31, 2021. For the period, the Company is expected to record an increase in loss for the year ended 31 March 2021 by approximately 50% as compared with the loss for the year ended 31 March 2020. Such increase in the net loss was primarily attributable to the following factors: The revenue of the Group for the year ended 31 March 2021 decreased by more than 40% as compared with the revenue of HKD 261,772,000 for the year ended 31 March 2020 owing to the drastic decline in sales recorded by its stores amid the COVID-19 pandemic.