The board of directors of the First Shanghai Investments Limited announced that the company is expected to incur a loss attributable to shareholders of the company not less than HKD 90 million for the year ended 31 December 2020, as compared with the profit of HKD 11 million recorded for the corresponding period in 2019. Such expected loss is primarily attributable to the reduction on fair value gain on investment properties due to adverse market outlook for sales or rental return of these properties.