Alco Holdings Limited provides consolidated earnings guidance for the year ended 31 March 2020. The Group is expected to record a net loss in the range of HKD 580 million to HKD 620 million (net loss before impairment of assets and revaluation loss of investment property was approximately HKD 420 million) for the year ended 31 March 2020. Net loss for the previous year was approximately HKD 563 million (net loss before impairment of assets was approximately HKD 487 million). The expected net loss of the Group was mainly due to the following reasons: Sales of the Group are expected to drop by approximately 40%. The decrease in sales is partly due to the uncertainty on the trade war negotiation between USA and China last year which has dampened the sentiment of buyers in placing orders. In addition, the outbreak of COVID-19 at the beginning of the year has affected production and delivery for February and March this year. In order to continue to promote the brand recognition of AVITA, Nexstgo and VAIO notebook products, extensive product research and development, advertising and promotion expenses have been spent during the year. Impairment of assets (being non-current assets and inventories) was approximately HKD 160 million. Revaluation loss of an investment property located in Shenzhen was approximately HKD 20 million.