Miko International Holdings Limited provided earnings guidance for the year ended December 31, 2020. The board of directors of the Company informed the shareholders of the Company and potential investors that, based on the preliminary assessment of the information currently available: the Board expects to record a significant decrease in revenue by approximately 30% for the year ended December 31, 2020 as compared to the revenue for the year ended December 31, 2019; and the Board expects to record a significant decrease in net loss by over approximately 70% for the year ended December 31, 2020 as compared to the net loss for the year ended December 31, 2019. The decrease in revenue for the year ended 31 December 2020 was primarily due to the low demand of the consumer market resulting from the outbreak of coronavirus globally during the year. The decrease in net loss for the year ended 31 December 2020 was primarily due to the sharp decrease in bad debts written off on trade receivables, write down on inventories, impairment loss recognized on goodwill and intangible assets, and selling and distribution expenses as a result of the stringent control measures during the year.