Wei Yuan Holdings Limited provided earnings guidance for the year ended December 31, 2020. For the year, the company expected that the consolidated results would record a net loss within the range of approximately SGD 3.7 million to SGD 4.2 million as compared to a net profit of approximately SGD 6.7 million for the corresponding year in 2019. The Board considers that the net loss for the year ended 31 December 2020 is mainly due to significant decrease in the gross profit (as compared to the corresponding year in 2019) as a result of the material adverse impact from the work suspension and delays arising from various measures implemented by the Singapore Government to contain the outbreak of the coronavirus (COVID-19), in which (a) elevated set of safe distancing measures (the ``Circuit Breaker'') implemented by the Singapore Government from 7 April 2020 to 1 June 2020 after listing on the Main Board of The Stock Exchange of Hong Kong Limited on 12 March 2020 where Group experienced disruption which operations did not immediately resume to its normal level even after Circuit Breaker was lifted which led to decrease in the revenue; (b) Group had to pay wages for direct labours during the Circuit Breaker period while such costs could not generate any corresponding project revenue during the Circuit Breaker period; and (c) additional costs were incurred in the adoption and implementation of additional safe and controlled restart measures for employees before resumption of the Group's operating activities. Subsequent to the end of the Circuit Breaker, precautionary restriction measures were in place as required by the Singapore authorities to minimise the risk of widespread re-emergence of COVID-19 in the community, and the operations of the Group were not resumed at full productivity as compared to the corresponding year in 2019.