Link Holdings Limited provided earnings guidance for the year ended December 31, 2019. For the year, the company expected to record a substantial increase in loss attributable to owners of the Company to not less than HKD 50 million (2018: loss of approximately HKD 3.3 million). Such substantial increase in loss was mainly due to, among others, the recognition of negative revenue from the Group's distressed debt assets (i.e. income from distressed debt assets classified as receivables less modification loss) as compared to the positive revenue recorded for the last year, and the record of an impairment loss on the Group's distressed debt assets in the PRC in view of the slow recoverability during the Year and the anticipated decrease in value realizable underlying the current downtrend of the PRC economy, which together resulted in a substantial segment loss for the Group's distressed debt assets management business for the Year; and the incurring of operating loss in respect of the Group's newly opened spa hotel in Japan during its initial stage of operation. The aforesaid impairment loss is only based on a preliminary assessment of the value of the investment, and is subject to change upon finalization of the Group's annual results for the Year.