SMIT Holdings Limited provided preliminary unaudited consolidated earnings guidance for the six months ended June 30, 2020. The company Group expects to record a loss of not more than USD 7,000,000 as compared to a loss of approximately USD 2,600,000 that was recorded for the six months ended 30 June 2019. The increase in loss is mainly attributable to the Group's continuous investment and increased research and development expenditures relating to the development of the electronic design automation ("EDA") business, through the Group's subsidiaries and investee companies, which requires substantial capital investment. The increased spending conforms with the Group's strategy on focusing resources on the development of the EDA sector.