Kasen International Holdings Limited provided earnings guidance for the six months ended June 30, 2017. Based on the preliminary review of the unaudited management accounts of the Group for the six months ended 30 June 2017, the board of directors of the company informed the shareholders of the company and potential investors that the interim results of the Group for the six months ended 30 June 2017 is expected to record a consolidated net loss attributable to owners of the Company as compared to a consolidated net profit attributable to owners of the company for the corresponding period in 2016. Based on the information currently available to the Board, the turnaround from profit to loss was largely attributable to the sharp increase of approximately RMB 91 million in the selling costs incurred during the first half of 2017 in relation to the substantially large number of pre-sale properties for the property development segment of the Group.