DeTai New Energy Group Limited provided preliminary consolidated group earnings guidance for the year ended June 30, 2021. For the year, the group expects to record the net loss in a range of HKD 32 million to HKD 42 million as compared to the net loss of approximately HKD 168 million for the year ended June 30, 2020. The decrease in the net loss was mainly attributable to the net off of the absence of impairment loss on goodwill in relation to the hotel hospitality business of approximately HKD 57 million; the decrease in impairment loss on freehold land and building of hotel hospitality business of approximately HKD 56 million and the reversal of impairment loss on loans receivable of approximately HKD 9 million. The impairment losses and reversal of impairment loss are non-cash items.