Beijing Capital Grand Limited provided earnings guidance for the year ended 31 December 2018. The Group is expected to record a net loss attributable to owners of the Company of not more than RMB 200 million for the financial year ended 31 December 2018, representing a significant decrease of approximately 275% as compared to the net profit attributable to owners of the Company of approximately RMB 113 million for the financial year ended 31 December 2017. Such expected net loss is primarily a result of (i) the absence of one-off extraordinary gain of approximately RMB 191 million in aggregate in the previous financial year relating to governmental subsidies for the opening of Nanchang Capital Outlets and repurchase by the local government of a piece of land in Huzhou Capital Outlets; (ii) a substantial increase in administrative expenses (such as recruitment and employee expenses) and selling and marketing expenses (such as advertising expenses) by approximately 87% and 62%, respectively, in connection with the opening of three new outlets projects in 2018 and continued promotion of projects newly launched in recent years; and (iii) a considerable increase in finance costs by approximately 90% as the Company has been actively conducting various financing activities in 2018 with a view to providing sufficient liquidity for capital expenditure required for the development and construction of upcoming property projects.