Keen Ocean International Holding Limited provided unaudited consolidated earnings guidance for the first quarter ended March 31, 2020. The board of directors of the Company inform the shareholders of the Company (the "Shareholders") and potential investors that, based on the preliminary review and assessment of the information currently available, including the unaudited consolidated management accounts of the Group (the "Management Accounts") for the three months ended 31 March 2020 (the "First Quarter 2020"), it is expected that the Group would record a loss for the First Quarter 2020 of approximately HKD 2,200,000, as compared to a profit for the corresponding period in 2019 of approximately HKD 1,500,000. Based on the information currently available, the Board is of the view that such expected loss was due to the outbreak of COVID-19 since January 2020 which has caused: a significant drop in sales since some of the Group's customers have postponed shipment and/or delivery schedule of the goods ordered; and an increase in the costs of production as a result of the various restrictive regulatory measures introduced by the government, in particular, suspending or limiting services of transportation facilities in certain areas and implementing mandatory quarantine measures, which have adversely affected the supply chain logistics and hampered the manufacturing process.