1957 & Co. (Hospitality) Limited provided earnings guidance for the nine months ended 30 September 2019. The Group is expected to record a mild decrease in turnover for the three months ended 30 September 2019 due to (i) the ad-hoc variation or shortening of opening hours of shopping malls where the restaurants of the Group are located, and (ii) signs of weakening of Hong Kong economy affecting the customer sentiment especially starting from June 2019 as compared to the three months ended 30 September 2018. Moreover, the Directors are also mindful of the continuous weakening of retail industry subsequent to 30 September 2019 and up to the date of this announcement, and will continue to monitor the relevant economic conditions and the ever-changing catering landscape, including cost pressure and the increasing downward pressure of the domestic economy. Given the challenging and uncertain market conditions on catering business, both the pre-opening expenses and operating losses of approximately HKD 2.4 million incurred associated with the opening of a new restaurant in September 2019 and the decrease in revenue less the relevant cost of inventories sold of approximately HKD 2.4 million were the major reasons for the increase in losses for the three months ended 30 September 2019 as compared with the same period in 2018, the Group is expected to record a further increase in the loss attributable to owners of the Company for the three months ended 30 September 2019 as compared with that for the corresponding period in 2018 while the Group might record reduction in net loss for the nine months ended 30 September 2019 as compared to 2018 based on preliminary review.