1957 & Co. (Hospitality) Limited provided earnings guidance for the year ended December 31, 2019. The board of directors of the Company announced that, based on a preliminary review on the unaudited consolidated management accounts of the Company and other information currently available to the Board, the Group is expected to record an increase in net loss after tax for the Reporting Period as compared to the net loss after tax for the corresponding period in 2018. The increase in loss-making position of the Group for the Reporting Period was mainly attributable to the impairment losses provided for the property, plant and equipment of company's two restaurants, namely Mango Tree (YOHO) Restaurant and Ta-Ke Japanese Restaurant, which are currently estimated to be in the range of approximately HKD 10 million to HKD 15 million in aggregate. Mango Tree (YOHO) Restaurant and Ta-Ke Japanese Restaurant were opened on 19 July 2017 and 28 March 2018, respectively, and the impairment losses are provided after the impairment assessment based on the respective forecast which has taken into account, among other things, (i) the accumulated operating losses incurred by the respective restaurants; (ii) the expected increase in operating losses for these restaurants with very remote chance of turnaround into profit making position after taking into account the commencement of social events during the latter half of 2019 and the first annual contraction of real gross domestic product of Hong Kong since 2009. Accordingly, the Board considered to impair the property, plant and equipment in the aggregate amount in the range of approximately HKD 10 million to HKD 15 million for the two restaurants. The Board would like to emphasise that the impairment losses were non-cash items and have no effect on the cash flow of the Group's operations. Based on the latest unaudited information currently available, the Directors expect that, other than the adverse impact brought by the aforesaid impairment losses, there is no material fluctuation in the operating results of the Group for the year ended 31 December 2019 as compared to that of 2018.