Lee's Pharmaceutical Holdings Limited announced that, based on the preliminary assessment of the Group's unaudited financial information currently available, the Group is expected to record an unaudited net profit attributable to the Shareholders of between HKD 110 million and HKD 130 million for the year ended 31 December 2019, representing a decrease of approximately 69% to 74%, as compared with approximately HKD 418.3 million recorded for the year ended 31 December 2018. Based on information currently available, the Board is of the view that the decrease in the profit attributable to equity holders of the Company for the year ended 31 December 2019 is mainly due to, among other things: a non-recurring loss of approximately HKD 108.6 million has been recognised in the first half of 2019 by China Oncology Focus Limited, a 65%-owned subsidiary of the Group, due to the impairment of its intangible asset after the discontinuation of the clinical trial of the PHOCUS study, a Phase III clinical trial evaluating the oncolytic immunotherapy Pexa-Vec (formerly JX-594) for advanced liver cancer; and (ii) the gain of approximately HKD 214.2 million recognised from the deemed disposal of interests in the then Taiwan-based associate of the Group in December 2018 was an one-off item and no similar gain was recurred in 2019.