The board of directors of Wan Leader International Limited announced that, based on the preliminary assessment of the Group's unaudited consolidated management accounts for the three months ended 30 June 2019 and information currently available to the Board, the Group is expected to record a net loss not exceeding HKD 5.0 million for the Period (as compared to a net profit of approximately HKD 1.3 million for the respective period in 2018). The turnaround from profit to loss was mainly attributable to the effects of (i) increase in the costs of air cargo space; (ii) legal and compliance costs, professional fees and printing charges incurred after the listing of the Company's shares on GEM; (iii) increase in staff costs and benefits as a result of raises in basic salary and additional headcount; and (iv) increase in lease charges and the related depreciation expenses (formerly classified as rental expenses) due to the relocation of warehouses and offices.