China Overseas Grand Oceans Group Limited provided earnings guidance for the year ended December 31, 2011. The Board informed shareholders of the company and potential investors that, based on the unaudited preliminary draft management accounts prepared by the finance department of the company, the consolidated net profit of the Group attributable to owners of the company for the year ended December 31, 2011 is expected to increase significantly as compared against last year. Such substantial improvement in the profit of the Group for the year ended December 31, 2011 is mainly attributable to the significant increase in both revenue and gross profit during the year. In addition, after the completion of the acquisition of the remaining 30% minority interest in China Overseas Grand Oceans Property Group Co. Ltd. (details of which had been disclosed in the circular of the company dated 26 November 2010), the profit attributable to non-controlling interests is reduced, which in turn contributes positively to the profit attributable to the owners of the company.