Greater China Financial Holdings Limited provided earnings guidance for the six months ended 30 June 2020. For the period, based on the unaudited consolidated management accounts of the Company and its subsidiaries for the six months ended 30 June 2020 and information currently available to the Board, the Group expects to record a loss attributable to Shareholders of not less than HKD 170 million for the six months ended 30 June 2020, as compared to the net loss of approximately HKD 35.2 million for the six months ended 30 June 2019. The expected increase in the net loss is mainly contributed by the following reasons an impairment loss of approximately HKD 115 million as the expected credit loss in the receivables increased due to the adverse impact of the COVID-19 on the operation and cash flow of the debtors; a provision for financial guarantees of approximately HKD 30 million in respect of the financial guarantees issued by the Group to the customers in the course of the financial guarantee services as expected credit losses on the financial guarantees are determined to be higher; and an impairment loss on goodwill of approximately HK$13 million in respect of the two cash generating units ("CGU"), namely the financing referral CGU and the financial guarantee CGU of the Group as the cash flow forecasts of these CGUs are revised downwards due to the economic slowdown in the PRC.