Koolearn Technology Holding Limited provided earnings guidance for the six months ended November 30, 2019. For the six months, the company informed the shareholders of the Company and potential investors that, based on a preliminary review of the Group's unaudited consolidated management accounts currently available to the Board, the Group is expected to record a substantial net loss for the six months ended 30 November 2019, a compared with a net profit recorded for the six months ended 30 November 2018. The loss was mainly attributable to: an increase in the Group's administrative expenses; research and development expenses; and selling and marketing expenses, compared with the same period last year. The increased expenses were incurred as a result of the Group's continued business expansion, in particular personnel cost to support the growing operations. This is reflective of the Group's continued efforts to invest in upgrading the technological infrastructure under pinning the education products, increasing the teaching staff and services, optimizing course portfolio and content development activities, and expanding each of the core business segments, and in particular, expanding the number of geographical cities and provinces entered into by the subsidiary, Beijing Dongfang Youbo Network Technology Co. Ltd.