CNT Group Limited provided consolidated earnings guidance for the six months ended June 30, 2017. For the period, the company expected profit attributable to the shareholders is expected to decrease by approximately 90% to 98% when compared with the corresponding period in 2016. The Board considers that the significant decrease in the Group's profit was mainly attributable to the reduced profit contribution from the paint business. The paint business has been spun-off as a separate company listed on the main board of the Stock Exchange since 10 July 2017. During the six months ended 30 June 2017, the significant decrease in profit contribution from the paint business was attributable to various factors, including the strategy in reducing the average selling prices of paint and coating products for the purpose of promoting the sales of paint and coating products and increasing the market share, increase in the cost of raw materials and the expenses incurred by the paint business for the listing on the main board of the Stock Exchange of approximately HKD 5 million. All of these resulted in estimated operating loss of the paint business for the six months ended 30 June 2017.