China Chuanglian Education Financial Group Limited board of directors of the Company announced that on the preliminary assessment of the latest unaudited consolidated management accounts of the Group for the year ended 31 December 2017, it is anticipated that the Group would record a significant decrease of over 80% in loss attributable to owners of the Company for the year ended 31 December 2017 as compared to the loss of approximately RMB 189,233,000 for the corresponding year in 2016. The aforesaid significant decrease in loss was mainly attributable to a significant increase in the revenue from the educational consultancy and online training and education business, a decrease in cost of sales and services as well as administrative expenses following the disposal of the other media business in June 2017. This disposal is in line with the business strategy of the Group, a significant decrease in loss on fair value changes of held for trading investments, a gain arising from the disposal of the other media business which was completed in June 2017 and a significant decrease in impairment loss on goodwill and impairment loss on intangible assets is expected as a result of the better operational performance of the educational consultancy and online training and education business.