Sincere Watch (Hong Kong) Limited provided consolidated earnings guidance for the six months ended September 30, 2020. Based on preliminary assessment of information currently available to the Board, the Group is expected to record an increase in the consolidated net loss by more than 20% for the six months ended 30 September 2020 as compared to the corresponding period of last year. The increase in loss was mainly attributable to the following factors: The significant drop in revenue of the Group's watch distribution business caused by the unprecedented COVID-19 pandemic and the associated combating measures; and The fair value loss of investment properties.