The board of directors of China-Hongkong Photo Products Holdings Limited announced that, based on its preliminary assessment of the unaudited management accounts of the Group and information currently available to the Board, the Group is expected to achieve a profit attributable to the Shareholders of not less than HKD 17.0 million for the six months ended 30 September 2020 as compared to a loss of approximately HKD 2.0 million for the corresponding six months ended 30 September 2019. The Board believes such turnaround from loss to profit was mainly attributable to, among other things, (i) the receipt of government subsidies under the Anti-Epidemic Fund set up by the Government of the Hong Kong Special Administrative Region; (ii) reduction in operating expenses and (iii) increase in foreign exchange gains, net.