The Board of Directors of Cheung Woh Technologies Ltd. issued a profit guidance in respect of the fourth quarter financial results for the period ended 28 February 2020. The Group expects to report a loss for fourth quarter of fiscal year 2020 and fiscal year 2020. The loss was mainly due to impairment charges made on certain property, plant and equipment ("PPE") in company Zhuhai subsidiaries. These PPE were previously used in the production of Baseplates which have become idle upon its completion of delivery in September 2019. The company have carried out an impairment assessment, in accordance with SFRS(I) 1-36 Impairment of Assets and have assessed that the carrying amounts of these PPE exceed their recoverable amounts, and accordingly, company have made allowance for impairment for these PPE. The loss was also attributed to low turnover. This profit guidance is based on preliminary review of the group's unaudited financial results for fourth quarter of fiscal year 2020. Further details on the group's performance will be disclosed when the company releases the unaudited financial statements for fourt h quarter of fiscal year 2020 on or before 28 June 2020.