Directel Holdings Limited provided consolidated earnings guidance for the nine months ended 30 September 2019. For the period, the company based on the information currently available and the preliminary review of the unaudited consolidated management accounts of the company expects to record a net loss for the Period as compared to a net profit of the Group for the corresponding period in 2018. The anticipated loss was primarily attributable to a significant decrease in revenue generated from the provision of telecommunications services in Hong Kong as the contracts with committed subscription which had been entered into in 2017 were completed in 2018 and the Group was unable to secure new contracts with committed subscription with distributors for the nine months ended 30 September 2019 for the 4G products; the significant decrease in the revenue mentioned in which in turn led to a gross loss for the Period as a certain amount of the operating costs in this sector are fixed costs in nature; an increase in fair value change on contingent consideration payables for the acquisition of Joint Top Investments Limited together with its subsidiary, Guangzhou Directel Telecommunications Limited in September 2017; the impairment loss on trade receivables; and an increase in administrative and operating expenses mainly from the increase in professional fees, staff costs and repair and maintenance fees.