The board of directors of Global Strategic Group Limited announced that based on a preliminary review of the latest audited consolidated management accounts of the Group for the year ended 30 September 2020 and other information currently available to the Board, it is expected that the Group may record a net loss at least more than approximately HKD 271 million for the year ended 30 September 2020 as compared to approximately HKD 63.7 million for the nine months ended 30 September 2019, mainly attributable to the impairment on property, plant and equipment and intangible assets. The Board considers that the expected net loss for the year ended 30 September 2020 was mainly attributable to, among other, the following factors: the novel coronavirus (COVID-19) epidemic outbreak in Mainland China since early 2020, imposing adverse impacts on the natural gas price; certain potential customers will not start using natural gas in their production in the coming year, hence the Board lower the profit estimation to the profit forecast; and impairment loss on the outstanding bonds issued by GTI Holdings Limited.