The board of directors of State Energy Group International Assets Holdings Limited announced that, based on a preliminary review on the unaudited consolidated management accounts of the Group for the year ended 31 March 2020 and the information currently available to the Board, the Group is expected to record a consolidated profit attributable to shareholders of approximately HKD 9 million, which compares to an attributable loss to shareholders of HKD 28 million for the year ended 31 March 2019. The turnaround in performance of the Group was mainly due to the increase of gross profits of garment business, contribution from newly introduced marketing and promotion business, the decrease of administrative expenses and the increase of fair value of investment properties.