Guangdong Land Holdings Limited provided consolidated earnings guidance for the six months ended June 30, 2017. For the period, based on the company's preliminary review of the unaudited consolidated management accounts, the group is expected to record an unaudited loss attributable to owners of the company of not more than HKD 3,000,000 for the period under review, while the group recorded an unaudited loss attributable to owners of the company of approximately HKD 9,565,000 for the six months ended June 30, 2016. As at June 30, 2017, the group's financial position remained stable. When comparing to the same period last year, the major factors that affected the results of the group for the six months ended June 30, 2017 include the following: in respect of the group's Renminbi ("RMB") deposits in Hong Kong, changes in the exchange rate of RMB against HKD resulted in exchange differences upon currency revaluation. Such exchange differences were recognised in the statement of profit or loss when incurred. For the six months ended June 30, 2016, RMB depreciated against HKD and resulted in the recognition of net exchange losses of approximately HKD 21,753,000 by the Group. And the effect of the above reduction in exchange losses recognized was partially offset by a decrease in the revenue generated from the sale of residential units of the Ruyingju Project when compared to the same period last year. This was mainly due to the fact that more than 90% of the total saleable area of the residential units had been sold before the end of 2016 and only a handful of residential units were sold during the period under review.