The board of directors of Tai Kam Holdings Limited informed the shareholders of the Company and the potential investors that, based on the preliminary assessment of the unaudited consolidated management accounts of the Group and the information currently available, the Group is expected to record a net loss of approximately HKD 3,900,000 for the year ended 30 April 2020, as compared with a net profit of approximately HKD 3,676,000 recorded for the year ended 30 April 2019. Such loss was primarily attributable to (i) the decrease in the gross profit of the Group's business due to the negative effect arose from social demonstration and the outbreak of the coronavirus which affect the progress of several on-going construction projects and the overall economic depression in Hong Kong and the global, (ii) the recognition of share-based payment arising from the share options issued during the period and (iii) provision for impairment loss of receivables.