The board of directors of FDG Electric Vehicles Limited announced that based on a preliminary assessment, the Group is expected to record a substantial increase in the Group's revenue and gross profit for the year ended 31 March 2015, as compared with the previous financial year in the range between 200% and 300%, and between 850% and 1,100%, respectively. The improvement in the above-mentioned performance was primarily attributable to the better recognition of the Group's Lithium-ion batteries and related products in the market and the improved economy of scale for battery production as compared with the Year 2014. In addition, the Group is expected to record a decrease in net loss for the Year 2015 by approximately between 30% and 70% when compared with that of the Year 2014, primarily due to the non-occurrence of any impairment on goodwill as compared to the impairment of goodwill of approximately HKD 665 million for the Year 2014.

Nonetheless, the Group's performance is affected by the increase in amortization of electric vehicle-related technical know-hows and general and administrative expenditures which includes, amongst others, the additional expenditures incurred by the Group's electric vehicle segment while awaiting the completion of the construction of the Group's Hangzhou electric vehicle production facility, which is targeted to commence production within the first half of the financial year ended 31 March 2016.