The board of Century Ginwa Retail Holdings Limited announced that based on the preliminary review of the management accounts of the Group for the six-month period ended 30 September 2016 (the current period) and information currently available, it is expected to record a loss attributable to equity shareholders of the Company of approximately HKD 259 million for the current period as compared with the profit recorded for the six months ended 30 June 2015. The Board believes that the loss was mainly due to the provision for impairment of goodwill. As such impairment is non-cash in nature, it will not have any material effect on the cash flow and the business operation of the Group; the loss on disposal of the property, plant and equipment resulting from the closure of the Xinjiang Youhao Store which will not have any impact on the cash flow and business operation of the Group. The closure of the Xinjiang Youhao Store would better optimize the utilization of the Group's resource to focus on the core location and is expected to enhance the overall business performance of the Group in the future; no valuation gain being recorded from the investment property during the current period, which is non-cash in nature; the Company's financial year end has been changed from 31 December to 31 March, and the statement of profit or loss for the current period covered a period from 1 April 2016 to 30 September 2016 while the comparative figures of the last period covered the period from 1 January 2015 to 30 June 2015, where there is a seasonal effect as the comparative period from January to June includes the New Year's Day and the Lunar New Year, which is the peak season for the retail business, and period from July to September in the current period is typically the off season for the retail business.