The board of directors of the L & A International Holdings Limited announced that based on the information currently available and the preliminary review of the unaudited consolidated management accounts of the Company, the consolidated results of the Company for the nine months ended 31 December 2016 is expected to record a substantial increase in the loss attributable to the owners of the Company by approximately 2,927% as compared to the corresponding nine months ended 31 December 2015. Such increase in loss was mainly attributable to (1) a tough retail environment in Hong Kong, (2) a decrease in its revenue from OEM segment primarily due to less cashmere contents of its OEM products sold to its customer given the demand for its pure cashmere OEM products, which priced higher, was weakening due to an unexpected weakened consumer sentiment globally, (3) the making of provision of inventories due to certain type of raw materials becoming obsolete over the years, and (4) the increase in the administrative expenses of the Company which was mainly caused by the increase in the share option expenses for granting of share option for the nine months ended 31 December 2016.