The board of directors of Kwong Man Kee Group Limited informed the shareholders of the Company and potential investors that based on a preliminary review of the Group's unaudited consolidated management accounts for the six months ended 30 September 2019, the Group is expected to record a substantial decrease in net profit to approximately HKD 1 million for the six months ended 30 September 2019 as compared to net profit of approximately HKD 6.1 million for the same period of 2018. Such decline was mainly attributable to the decrease of revenue due to the delay in commencement of some contracts being secured from property developers caused by the market and economic uncertainty since June 2019; and the decrease of gross profit margin primarily due to increase of usage of material and subcontractor cost to meet the variation orders in certain projects and the competitive pricing strategy adopted for intense competition in new carpark construction projects.