Lai Sun Garment (International) Limited provided earnings guidance for the year ending July 31, 2020. Based on the latest management information currently available to the Company and an assessment of the deteriorated market conditions and the business disruptions of the Group caused by the outbreak of the COVID-19, the board of directors of the Company ("Board") wishes to inform shareholders of the Company ("Shareholders") and potential investors that the Group is expected to record a consolidated loss attributable to owners of the Company for the year ending 31 July 2020 ("Year") as compared to a consolidated profit attributable to owners of the Company of approximately HKD 2,797.5 million for the year ended 31 July 2019. Such decline in the Group's results is primarily due to the absence of the net gain from the one-off bargain purchase on acquisition of subsidiaries of approximately HKD 2,096.4 million recorded during the year ended 31 July 2019 and decrease in valuations of properties owned by the Group.