The board of directors of Grand Talents Group Holdings Limited announced that based on the information currently available to the Board, the Group is expected to record a net loss after tax of approximately HKD 4.0 million for the year ended 31 March 2020 as compared to a net profit after tax of approximately HKD 1.9 million for the year ended 31 March 2019. Such loss is mainly attributable to (i) decrease in revenue of approximately HKD 11.1 million mainly due to the completion of four repair and maintenance projects and the negative effect arising from social unrest which affect the progress of several on-going construction projects and the overall economic recession in Hong Kong; (ii) increase in cost of sales of approximately HKD 3.5 million mainly due to increase in contra cost and payroll; and (iii) increase in administrative expenses of approximately HKD 4.4 million mainly arising from increases in staff costs and depreciation expenses.