China Vanadium Titano-Magnetite Mining Company Limited provided earnings guidance for the six months ended 30 June 2016. The board of directors of the Company informed the shareholders of the Company and potential investors that, based on the preliminary assessment of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2016 and the information currently available to the Board, the Group is expected to record a loss and total comprehensive loss attributable to owners of the Company of not more than approximately RMB 250.0 million for the six months ended 30 June 2016, which is significantly lower as compared to the net loss of approximately RMB 865.5 million for the corresponding period in 2015. With regards to the above, the Board would like to draw to the attention of the Shareholders that (i) the Net Loss for the six months ended 30 June 2016 was due mainly to the continual low selling prices for the Group's iron ore products and weak distribution business in view of excessive downstream crude steel capacity; and (ii) the lower Net Loss for the six months ended 30 June 2016 as compared to the corresponding period in 2015 was due mainly to the lower assets impairment losses (for key operating assets), lower administrative expenses (given cost control) and an income tax credit (given recognition of deferred tax assets) for the six months ended 30 June 2016.