China Creative Digital Entertainment Limited provided earnings guidance for the year ended 30 June 2019. For the period, the company expects to record a loss of not less than HKD 1.9 billion as compared to the corresponding period in 2018. The Group's results for the year ended 30 June 2019 have been adversely affected by: the voluntary winding up of the subsidiary, HMV Marketing Limited; an impairment on the goodwill and intangible assets in relation to the voluntary winding up of HMV Retail. The Board would like to emphasize that the impairment loss on the goodwill and intangible assets is a non-cash item and has no effect on the Group's daily operations and cash flow; the loss on disposal of subsidiaries; the fair value change on the investment property; increase in the impairment loss of film rights and financial assets as the carrying amount exceeds the recoverable amount; increase in finance costs; and impairment losses on loan receivables, trade receivables and other receivables.