Modern Dental Group Limited provided earnings guidance for the year ended December 31, 2020. For the year, the company expected the total revenue for Fiscal Year 2020 is to be within the range of HKD 2,180 million to HKD 2,200 million, representing a decrease within the range of approximately 8% to 9%, when compared to the revenue for Fiscal Year 2019 of approximately HKD 2,400 million; the net profit to be within the range of HKD 240 million to HKD 250 million, which represents an increase within the range of approximately 229% to 242%, when compared to the net profit for the six months ended 31 December 2019 of approximately HKD 73 million. The increase in the Group's profit from core operations and EBITDA for Fiscal Year 2020 when compared with Fiscal Year 2019 and the increase in the Group's net profit for 2H 2020 when compared with 2H 2019 were mainly due to (i) a solid recovery in 2H 2020 in the dental industry; (ii) accelerated consolidation within the dental industry in Fiscal Year 2020 as a direct result of the COVID-19 global pandemic, which has disproportionately affected smaller and medium-scaled competitors; (iii) an overall improvement in gross profit margin in 2H 2020 when compared with 2H 2019 as a result of increased utilisation rate of the production capacities and favorable foreign currency movement; and (iv) stringent cost control measures.