China Asia Valley Group Limited provided earnings guidance for the year ended 31 December 2020. The company announced that based on the preliminary review by the Board on the latest unaudited consolidated management accounts of the Group for the year ended 31 December 2020, which have not been reviewed or audited by the independent auditors and/or the audit committee of the Company, and taking into account the information currently available to the Board, it is expected that the Group will record a net loss of approximately HKD 22,348,000 for the year ended 31 December 2020, as compared to the net loss of approximately HKD 10,000 for the year ended 31 December 2019; and revenue of approximately HKD 17,216,000 for the year ended 31 December 2020, representing an increase of 28% as compared to the revenue of HKD 13,458,000 for the year ended 31 December 2019, mainly attributable to the new income arising from a growth in the property management business of the Group in the last quarter of 2020. The Board considers that the expected increase in net loss is primarily attributable to the followings: (i) operating and administrative expenses decreased by 29% due to the effective cost cutting and control strategy implemented by new management in this Period; (ii) fair value gain on investment properties of HKD 2,000,000 was recorded for the year ended 31 December 2020, as compared to the fair value gain amount of HKD 20,800,000 recorded for the same period in 2019; (iii) provision for loss in investment in associates of HKD 12,211,000 was made for the Taiwan investment for this Period as it is expected that such investment will not be recoverable; and (iv) finance cost was HKD 4,814,000 in this Period (2019: HKD 8,104,000), representing a reduction of 40% due to the repayment of bank loan of HKD 40,000,000 in this Period.