The board of directors of Luen Wong Group Holdings Limited announced the shareholders of the Company and the potential investors that, based on the preliminary assessment of the unaudited consolidated management accounts of the Group and the information currently available, the Group is expected to record a net loss for the nine months ended 31 December 2019, as compared with a net profit of approximately HKD 9,113,000 recorded for the corresponding period in 2018. Such loss was primarily attributable to (i) the decrease in the revenue of the Group's business due to the negative effect arose from social demonstration which affect the progress of several on-going construction projects and the overall economic depression in Hong Kong and the global; (ii) the decrease in gross profit due to few large construction projects reaching completion stage; and (iii) the recognition of share-based payment arising from the share options issued during the period.