Oriental Watch Holdings Limited announced that based on the unaudited consolidated results of the Company and its subsidiaries (the "Group") for the year ended 31 March 2020 (the "Year"), it is expected that the Group's net profit for the year would decrease by over 20% as compared with that of last year mainly as a result of impairment losses made in respect of right-of-use assets and property, plant and equipment and increase in allowance for slow-moving watches, and decrease in revenue caused by the Covid-19 outbreak in the first quarter of 2020.