Citychamp Watch & Jewellery Group Limited provided Group earnings guidance for the year ended 31 December 2019. The Group is expected to record a decrease in net profit of more than 50% for the year ended 31 December 2019, as compared to that of HKD 241,448,000 for the year ended 31 December 2018. Such expected decrease in net profit is primarily attributable to (i) less favorable operating environment in the watch market, especially the market in which our brands operate including the Greater China Region and Europe; (ii) the decrease in revenue and profit for the watches and timepieces businesses; (iii) decrease in revenue and profit of banking and financial businesses; and (iv) increase in finance costs.