Kerry Properties Limited provided group earnings guidance for the six months ended June 30, 2020. For the period, the group expects that there will be a substantial decrease, between 70% and 75%, in profit attributable to its shareholders for the six months ended 30 June 2020, as compared to the same period in 2019. Based on the preliminary review on the draft unaudited consolidated management accounts of the Group for the six months ended 30 June 2020 and the information currently available to the Company, the Board expects a lower contribution from sales from the Group's development properties; significantly reduced income from the hotel assets held by the Group in the first six months of 2020 as compared to that of the first six months of 2019; and the absence of revaluation gains for the Group as compared to a net gain of HKD 452 million during the same period in 2019. This decrease principally reflects the effect of the adverse market conditions created by the unprecedented COVID-19 pandemic and associated quarantine and social protective measures put in place in Hong Kong and the Mainland.