The board of directors of Mayer Holdings Limited announced that, based on the information currently available to the Company and the unaudited consolidated management accounts of the Group for the year ended 31 December 2019, the Group is expected to record a net profit, approximately in the range from RMB 7 million to RMB 9 million, as compared with the net loss of RMB 53.4 million recorded for the year ended 31 December 2018. Such change was primarily attributable to an increase in the amount of revenue of the Group for year 2019 of approximately 36% as compared with year 2018. Besides, there was an impairment loss on long term receivables of RMB 50 million recorded in year 2018, which led to the result of a net loss for year 2018. No such material impairment loss is expected in year 2019.