The board of directors of Hands Form Holdings Limited informed the shareholders of the Company and potential investors that, based on a preliminary review of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2020 and the information currently made available to the Board, the Group expects to record a consolidated net profit within the range of approximately HKD 10.0 million to HKD 12.0 million for the six months ended 30 June 2020 as compared to consolidated net profit of approximately HKD 16.3 million of the corresponding period in 2019. Based on the information currently available, the decrease in net profit would be mainly attributable to the following factors: (i) the decrease in revenue due to substantial completion of the projects on hand during the six months ended 30 June 2020; and (ii) the decrease in gross profit margin for the Group's business as a result of an increase in overall construction costs. The delay in site progress due to the outbreak of Novel Coronavirus Disease 2019 (COVID-19) has resulted in an increase in subcontracting costs owing to the prolonged need for maintaining the required site workforce.