China Vanadium Titano-Magnetite Mining Company Limited provided earnings guidance for the six months and year ended December 31, 2015. For the six months, the company expects to record a net loss of approximately RMB 234.5 million for the six months ended 31 December 2015 based on the initial assessment of the group's unaudited management accounts. The company expects its full year financial performance for the year ended 31 December 2015 to remain weak due mainly to higher operating loss that arose from lower output and lower revenue; and significant assets impairment losses from falling fair value and/or value in use of its key operating assets and investments, despite a lower estimated net loss for the second half of 2015 as compared to first half of 2015.

Hence, the company expects to record a net loss of approximately RMB 1,100.0 million for the fiscal year 2015 based on the initial assessment of the group's unaudited management accounts, which is significantly higher compared to the net loss of approximately RMB 366.4 million for the corresponding period in 2014.