The board of directors of South Shore Holdings Limited informed the shareholders of the Company and potential investors that based on the preliminary review on the unaudited consolidated management accounts of the Group for the year ended 31 March 2021, the Group is expected to record a loss for the year of approximately HKD 950 million, as compared to loss for the year of approximately HKD 1,019 million for the year ended 31 March 2020. Such decrease of loss for the year ended 31 March 2021 was mainly attributable to the decrease of direct costs of sales and services of hotel business by approximately 14% and administrative and other expenses by approximately 34% after the suspension of hotel business during the year ended 31 March 2021 due to the COVID-19 pandemic.