Morris Holdings Limited provided consolidated earnings guidance for the year ended December 31, 2020. The group is expected to record a decrease in revenue for the year ended 31 December 2020 by over 35% as compared to the year ended 31 December 2019, principally due to the decrease in sales volume of sofa, sofa covers and other furniture products as a result of the supply-chain disruption caused by the outbreak of COVID-19 epidemic; and a decrease in loss for the year for fiscal year 2020 by over 35% as compared to fiscal year 2019, principally due to the gain on modification of convertible loan, gain on disposal of subsidiaries, compensation on factory relocation and the decrease in selling and distribution expenses as a result of the disposal of Jennifer Convertibles Inc.