Art Group Holdings Limited announced that based on a preliminary assessment on the unaudited condensed consolidated management accounts of the Group for the six months ended 31 December 2020, it is expected that the Group may record a net loss of not less than HKD 76 million for the six months ended 31 December 2020, as compared to a net profit of approximately HKD 15 million for the six months ended 31 December 2019. The Board believes that such net loss is due to a decrease in fair value of the Group's investment properties, the Jiachao's Shopping Mall, of approximately HKD 120 million as a result of the COVID-19 pandemic spreading across the globe since the first half year of 2020.