China Star Entertainment Limited provided consolidated earnings guidance for the year ended 31 December 2020. The group is expected to record a reduction of not less than 60% in its consolidated loss for the year ended 31 December 2020 as compared to the corresponding figure of HKD 335,731,000 for the year ended 31 December 2019. Based on a preliminary review on the unaudited consolidated management accounts of the Group for the year ended 31 December 2020 and information currently available to the Board, the decrease in loss is mainly attributable to the substantial decrease in: (i) impairment loss recognised in respect of film rights and film in progress of approximately HK$26 million for the year ended 31 December 2020 from HKD 135,521,000 for the year ended 31 December 2019; and (ii) recognition of loss arising on change in fair value of financial assets at fair value through profit or loss of approximately HKD 97 million for the year ended 31 December 2020 from HKD 183,582,000 for the year ended 31 December 2019.