Asia Commercial Holdings Limited announces that the Group is likely to make a net loss for the financial year ending 31 March 2020 given the recent COVID-19 pandemic manifested across Hong Kong and Mainland China where the major businesses of the Group are located. Based on its latest preliminary review of the relevant unaudited financial information for the period from 1 April 2019 to 29 February 2020, the Group's revenue for February 2020 plunged sharply by around 75% to around HKD 19 million as compared with a monthly average of around HKD 75 million for the period from 1 April 2019 to 31 January 2020. The Board believes the situation in March 2020 will not have any significant improvement in the existing circumstances. As such, after a preliminary assessment of the unaudited financial information and the expected performance of the Group for the remaining period of the current financial year, the Board estimates the Group is likely to record a net loss for the full year ending 31 March 2020. The downturn of the Group's overall financial performance is largely attributed to the disruptions of markets in Hong Kong and Mainland China, the associated containment measures including border closures and travel bans amongst the affected areas, and the consequential negative impact on the Group's sales and operations amid the recent COVID-19 pandemic manifested across the areas in late January 2020 and is still on-going. The Group's management is actively taking measures to mitigate the short term impact on the Group's business, including but not limited to evaluating and improving the existing sales strategies and moving to stronger costs control measures.