The board of directors of Kin Shing Holdings Limited informed the shareholders of the Company and potential investors that, based on its initial assessment of the latest unaudited consolidated management accounts of the Group and the information currently available to the Company, the Group expects to continue to record a consolidated net loss of approximately HKD 15.0 million for the year ended 31 March 2020, as compared to the consolidated net loss of approximately HKD 19.3 million for the year ended 31 March 2019. The Board is of the view that the expected consolidated net loss is due to the aggregate effect of the followings: Decrease in revenue due to (i) the delay in commencement of new projects being awarded to the Group and (ii) substantial completion of the on hand projects (iii) delays in certain formworks projects due to the local social incidents in Hong Kong and the outbreak of the novel coronavirus (COVID-19) epidemic during the year ended 31 March 2020; Decrease in gross profit margin due to (i) an increase in the rate of direct labours and subcontractors and the additional costs caused by the unexpected changes to the on-site arrangements; and (ii) keen competition for new formwork works contracts in the market.