Sinofortune Financial Holdings Limited provided earnings guidance for the mine months ended September 30, 2020. The company expected to record an unaudited loss of not less than HKD 16 million for the nine months ended 30 September 2020 as compared to the unaudited loss of HKD 87.6 million as recorded in the corresponding period in 2019. The board noted that the loss in the third quarterly period, when compared with the past corresponding period, was reduced, which was mainly due to (1) the loss in the changes in inventories of finished goods has been reduced; and (2) there was no provision for the onerous contracts for motor vehicles in the third quarterly period. The loss recorded in the third quarterly period was mainly due to the decrease in the revenue in the sales of motor vehicles business operated in the PRC. The performance of the sales of motor vehicles segment has been seriously affected since the outbreak of COVID-19 pandemic, the on-going Sino-US trade war and the change of the PRC government policies. Since January 2020, the Group has adjusted its business strategies in order to stimulate the sales and clear the stocks of motor vehicles which including, inter alia, reduced the price on certain models of motor vehicles, focused on promoting the sales on those motor vehicles which could be sold at profit, and controlled the costs of operation in this segment. The Group will continue to closely monitor the business environment and the changes of the PRC government policies in order to make appropriate business strategies to further improve the performance in this segment.