Sling Group Holdings Limited provided financial guidance of the Group for the year ended 31 December 2018. The board of directors of the Company informed the shareholders of the Company and potential investors that based on the preliminary review of the latest unaudited consolidated management accounts of the Group for the eleven months ended 30 November 2018, the consolidated financial results of the Group for the year ended 31 December 2018 expected to record a significant decline as compared to the corresponding period in 2017. The unfavorable results were mainly attributable to (1) the decrease in sales in middle-end women's handbag arising from keen competition largely in online retail sales and weakening consumer demands in China during the economic slowdown period, and (2) the net exchange losses arising from the significant depreciation of Renminbi against Hong Kong Dollar.