The board of directors of FDG Electric Vehicles Limited announced the shareholders of the company and potential investors that based on the preliminary assessment, the group is expected to record a significant loss for the year ended 31 March 2014 as compared with the loss of approximately HKD 324 million for the corresponding period in 2013. The significant increase in loss was mainly attributable to the impairment of a significant portion of goodwill derived from the acquisition of 58.50% of the issued share capital of Agnita Limited by its wholly-owned subsidiary, Preferred Market Limited which was completed on 7 March 2014.