China Putian Food Holding Limited provided group earnings guidance for the year ended December 31, 2017. The board of directors of the company, based on the information currently available, the group is expected to record a decline of profit of around 57% for the year ended 31 December 2017 compared with the profit for the year ended 31 December 2016. Such decline was mainly due to the decrease in the revenue mainly attributable to the decrease of consumption price of pork in Fujian Province and the fact that the Group is in the process of developing the new sales structure of promoting the sales of black pork products leading to decrease in sales of pork products, as black pigs are with longer breeding period; the increase in the selling and distribution expenses which was mainly due to the increase of advertising expenses, repair and maintenance expenses, remuneration, etc.; the increase in the administrative expenses which was mainly due to the increase of office expenses, rental expenses, remuneration, etc.; and the increase in finance cost due to the increase in imputed interest of the convertible bond in the principal amount of HKD 150,000,000 due 2018 with an annual interest rate of 5% payable semi-annually in arrears and the non-convertible note in the principle amount of HKD 110 million due 2018 with an annual interest rate of 6% payable semi-annually in arrears.