Century Ginwa Retail Holdings Limited provided earnings guidance for the year ended 31 March 2019. The board of directors of the Century Ginwa Retail Holdings Limited informed shareholders of the company and potential investors that based on the preliminary review of the management accounts of the Group for the year ended 31 March 2019 and information currently available, it is expected that the Group will record a loss attributable to equity shareholders of the Company of approximately RMB 261.6 million for the year ended 31 March 2019 as compared with the profit recorded for the year ended 31 March 2018. The Board considers that the aforesaid turnaround from profit to loss was mainly due to (i) the provision for impairment of goodwill of approximately RMB 194.7 million due to the slowdown in the economic growth in People's Republic of China (the "PRC") and increased market competition arising from surrounding shopping malls and online retail shops.