Century City International Holdings Limited provided earning guidance for the year ended 31 December 2020. The board of directors of the Company informed the shareholders of the Company and potential investors that, based on the preliminary review by management of the Company on the unaudited consolidated management accounts of the Group for the year ended 31st December, 2020, it is expected that the Group will incur a net loss in the region of HKD 540 million for the year ended 31st December, 2020, while a profit of HKD 174.9 million was recorded for the preceding year. The loss expected to be incurred for the year is primarily attributable to the fair value losses on investment properties and impairment losses on other assets, the depreciation charges in an aggregate amount of about HKD 574 million on the Group's hotel portfolio, which is essentially a non-cash item, and the finance costs incurred.