The board of directors of AV Concept Holdings Limited informed the shareholders of the Company and potential investors that based on the Board's preliminary assessment of the unaudited consolidated management accounts of the Group for the year ended 31 March 2020 (the "Year") and the information currently available to the Group, the Group is expected to record a year-on-year increase of not less than 55% in consolidated profit attributable to owners of the Company for the Year, as compared to that of approximately HKD 57 million for the year ended 31 March 2019. It is expected such increment was mainly attributable to, among others, (i) the increase in share of profits and losses of joint ventures and associates when compare to that for the year ended 31 March 2019 primarily resulting from better performance of the joint venture during the Year; (ii) the decrease of fair value losses on financial assets (which mainly consist of investments in listed/unlisted equity, debt investments, convertible bonds and listed bonds) at fair value through profit or loss, net of the Group when compare to that for the year ended 31 March 2019; and (iii) the decrease of other expenses, net of the Group when compare to that for the year ended 31 March 2019 primarily resulting from the absence of the one-off impairment of other receivables as recorded for the year ended 31 March 2019.