Sun Cheong Creative Development Holdings Limited provided consolidated earnings guidance for the year ended 31 December 2019. The company announced that further to the company's announcement made on 30 March 2020, ‘preliminary results announcement for the year 2019 - profit warning’, based on the unaudited consolidated management accounts of the group for the year ended 31 December 2019 and information currently available to the Group, the Group expects to record a net loss after tax of approximately HKD 296 million, as opposed to a net loss after tax of approximately HKD 45 million as announced on 30 March 2020. The increase of the expected net loss is primarily attributed to the following reasons: the impairment of fixed assets of approximately HKD 193 million; and the provision of inventory of approximately HKD 30 million. With the significant amount of impairment of fixed assets, the Group expects to record a net liability of approximately HKD 115 million, as opposed to a net assets of approximately HKD 137 million as announced on 31 March 2020.