COVID-19 is rampant across the globe, battering the global economy and Hong Kong's economy is also facing extensive and unprecedented challenges.

In the face of daunting challenges, the Group has devoted to adopting various measures to explore new business opportunities for competitiveness enhancement and sustainable development. Under this circumstance, after a comprehensive review, it was unavoidable for the Group to carry out an organizational restructure of various departments.

There are approximately 1,300 employees across the Group, around 100 positions across various departments will be realigned or made redundant. The Group will provide compensation to the affected employees in accordance with the requirements under the labour legislation in Hong Kong.