Guan Chao Holdings Limited provided earnings guidance for the year ended December 31, 2019. For the period, the company expects to record a significant decrease in profit attributable to the equity holders of the Company for the Current Year as compared to profit attributable to the equity holders of the Company of approximately SGD 7.4 million for the year ended 31 December 2018. The Company expects that there is a decrease in the profit attributable to the equity holders of the Company for the Current Year, primarily due to the (i) increase in the Group's general and administrative expenses (excluding listing expenses) for the Current Year of approximately SGD 1.7 million; (ii) increase in the Group's selling and distribution costs for the Current Year of approximately SGD 1.1 million; and (iii) decrease in gross profit by approximately 5% as a result of the increase in costs of motor vehicles (and related costs) sold for the Current Year.