Ying Hai Group Holdings Company Limited provided earnings guidance for the year ended December 31, 2020. For the year, the company expected to record a loss attributable to the owners of the Company for FY2020 not more than HKD 29.0 million, as compared to the loss attributable to the owners of the Company of approximately HKD 1.1 million or the adjusted profit attributable to the owners of the Company (excluding the listing expenses of approximately HKD 16.9 million) of approximately HKD 15.8 million for the year ended 31 December 2019 Based on the information currently available, the Board considers that such expected loss of the Group for FY2020 as compared to financial year 2019 was mainly attributable to (i) the substantial decrease in revenue generated from the sales and distribution of hotel rooms and the provision of car rental services, which was mainly due to the outbreak of the COVID-19 pandemic and the travel restrictions imposed by the Macau government, which led to the substantial decrease in number of visitors visiting to Macau during FY2020; and (ii) the increase in administrative expenses, which was mainly due to the recognition of impairment loss of right-of-use assets and trade receivables as well as the increase in employee benefits expenses, depreciation expenses and professional fees after the listing of the Company's shares on GEM of the Stock Exchange.