Art Group Holdings Limited provided earnings guidance for the year ended December 31, 2019. The board of directors expected that the unaudited condensed consolidated net profit of the Group for the six months ended 31 December 2019 may experience a decrease by approximately over 60% compared with that for the six months ended 31 December 2018. The Board believes that the decline is mainly due to a number of factors including an increase in the costs of sales as a result of more repair and maintenance work done at the shopping malls and a salary increment with aggregated balance of approximately over HKD 3 million; an increase in administrative expenses attributable to the handling charges paid for two new bank borrowings of approximately over HKD 7 million; and an increase in finance costs of approximately over HKD 11 million as a result of larger principal amount of two new bank borrowings and higher interest rate charged by the bank for the six months ended 31 December 2019.