Sage International Group Limited provided consolidated earnings guidance for the year ended December 31, 2019. For the year, the company is expected to record a significant increase in loss of the Year 2019 and loss attributable to owners of the Company for the Year 2019 as compared to the corresponding year in 2018. The significant increase in loss for the Year 2019 and loss attributable to owners of the Company for the Year 2019 was mainly attributable to (i) social unrest in Hong Kong since June 2019 which resulted in unexpected performance of the exhibitions organised by the Group; (ii) non-cash share-based payment expense recognised as a result of an acceleration of vesting upon the cancellation of certain share options in June 2019, which were granted by the Company in the second and third quarters of the year ended 31 December 2018; (iii) non-cash share-based payment expense recognised during the Year 2019 for certain share options issued by the Company in July 2019; (iv) non-cash share-based payment expense recognised in connection with the issuance and allotment of certain new shares of the Company pursuant to a strategic cooperation agreement entered into between an indirect wholly-owned subsidiary of the Company and a consultant; and (v) impairment loss on certain investments in film and drama.