Labixiaoxin Snacks Group Limited board of directors announced that, based on the information currently available to the Board and the preliminary review of the unaudited management accounts of the Group for the year ended 31 December 2015, it is expected that the Group will record a decrease in the Group's total sales from RMB 1,129 million for the year ended 31 December 2014 to approximately RMB 1,047 million for the year ended 31 December 2015 and a consolidated net loss of approximately RMB 338 million for the year ended 31 December 2015, as compared to a consolidated net profit of approximately RMB 11 million for the year ended 31 December 2014. Based on the information currently available to the Board, the Board considers that such significant loss was primarily attributable to the impairment loss of approximately RMB 317 million in respect of property, plant and equipment due to the decline in the expected performance for the Group's beverages segment recognised during the year ended 31 December 2015.