The board of directors of Earthasia International Holdings Limited informed the shareholders of the Company and potential investors that, based on the preliminary review on the unaudited management accounts of the Group for the year ended 31 December 2019 and the information currently available to the Board, the Group expects to record an increase in loss attributable to shareholders for the year ended 31 December 2019 by more than 40% to over HKD 50 million, as compared with a loss attributable to shareholders of approximately HKD 36.0 million for the year ended 31 December 2018. In August 2019, the Group commenced the graphene business through the acquisition of Think High Global Limited, which contributed additional revenue of approximately HKD 120 million to the Group. However, the increase in loss attributable to shareholders was primarily attributable to (i) the increase in finance cost to approximately HKD 27.5 million arisen from bonds issued principally to finance the acquisition of Think High Global Limited; and (ii) the drop of revenue of the Group's catering segment which led to the written off of investment in Suzhou Industrial Park Wenlvge Hotel Management Company Limited in the first half of 2019, and some impairment loss on the investment of Thai Gallery (HK) Limited mainly due to cease of operation of a Thai Gallery restaurant in Chengdu, China.