Grand Vision Media Holdings Plc announced that COVID-19 has had a significant adverse effect on the Group’s performance in 2020. The major restrictions on travel and closure of businesses has caused significant disruption and erosion of confidence. Sales for the first quarter of the year are below the prior year as a result of the ongoing cinema closures in China, resulting in reduced OOH advertising revenues, and reduced marketing budgets in Hong Kong due to the pandemic, resulting in reduced revenues for digital marketing. The outlook for 2020 remains uncertain due to the ongoing effects of COVID-19 on the business environment in China and Hong Kong.