Brief: Affluent Partners Holdings Updates on Impact of COVID-19 On Business

Baijin Life Science Holdings

02/04/2020 11:35

April 2 (Reuters) - Affluent Partners Holdings Ltd
 1466.HK :
    * SEES VALUE OF INVESTMENT IN ASSOCIATE OF GUARDIAN CITY LTD
WILL
BE LARGELY DECREASED
    * EXPECTED THAT REVENUE OF PEARLS AND JEWELLERY BUSINESS
SEGMENT
CONTINUED TO DETERIORATE FOR Q1 OF 2020 DUE TO COVID-19
    * SEES SIGNIFICANT IMPAIRMENT RANGING OF ABOUT HK$142
MILLION TO
ABOUT HK$160 MILLION OF INVESTMENT IN ASSOCIATE OF GUARDIAN CITY
    * UNAUDITED REVENUE OF SALES OF PEARLS AND JEWELLERY
PRODUCTS FOR
NINE MONTHS DROPPED OVER 30% AS COMPARED TO PCP
    * REMAINS DIFFICULT FOR COMPANY TO QUANTIFY IMPACT OUTBREAK
WILL
HAVE ON GROUP FOR FIRST HALF OF 2020
    * "SOCIAL MOVEMENT IN HONG KONG AND OUTBREAK IS EXPECTED TO
ADVERSELY IMPACT ON BUSINESS PERFORMANCE"
    * GROUP'S REVENUE IS EXPECTED TO BE CARRIED FORWARD TO
CERTAIN
EXTENT FOR REST OF Q1 OR EVEN FIRST HALF OF 2020

Source text for Eikon:  ID:nHKSbc1N1p 
Further company coverage:  1466.HK 

 ((Reuters.Briefs@thomsonreuters.com;))