The board of directors of China Overseas Grand Oceans Group Limited informed shareholders, bondholders and potential investors of the company that having reviewed the preliminary unaudited management accounts of the company and its subsidiaries (collectively referred to as the "Group") for the six months ended 30 June 2019 and the currently available information, the Group is likely to record an increase of about 75% to 85% in the unaudited consolidated net profit attributable to owners of the company for the six months ended 30 June 2019 as compared to the corresponding period of last year (2018: HKD 1,014.2 million) based on preliminary assessment. The increase is mainly attributable to the increase in the recognized revenue from sale of properties of the Group during the period and the gross profit margin from the sales of properties.