The board of directors of Forward Fashion (International) Holdings Company Limited announced that based on a preliminary review of the unaudited consolidated management accounts of the group for the eleven months ended 30 November 2020 and the information currently available to the board, the group is expected to record a significant consolidated loss after taxation for the year ended 31 December 2020. Compared to the financial results of the Group for the eleven months ended 30 November 2019, the unaudited sales and gross profit of the Group for the eleven months ended 30 November 2020 have dropped by not less than 40% and 50% respectively. Excluding the non-recurring listing expenses, the group is expected to record a net loss of not less than HKD 140 million for the year ended 31 December 2020 as compared with the net profit of HKD 37.8 million for the year ended 31 December 2019.