The board of directors of Guangnan (Holdings) Limited informed the shareholders of the company and potential investors that, based on the company's preliminary review of the management accounts of the Group for the three months ended 31 March 2019, the consolidated profit attributable to shareholders of the company for the three months ended 31 March 2019 is expected to be increased by approximately 45% as compared to that for the corresponding period in 2018, primarily attributable to the net effect of (i) the increase in selling price and gross profit per unit of tinplate products, despite of the decrease in the sales volume of tinplate products during the current period as compared to that for the corresponding period last year, resulting in turning from a loss into profit for tinplating business; (ii) the increase in the price of live pigs during the current period as compared to that for the corresponding period last year, leading to an increase in profit of live pigs' distribution business and a decrease in net losses incurred by the two associates which are engaged in pig farming and sales of pigs; (iii) the increase in gross profit per unit of major products of an associate, Yellow Dragon Food Industry Co. Ltd., leading to a decrease in loss recorded by this associate in the current period as compared to that for the corresponding period last year; and (iv) the value of investment properties in Hong Kong held by the Group remained stable such that no valuation gains on investment properties were recorded for the period by the Group as compared to valuation gains recorded in the corresponding period last year.