Feishang Non-Metal Materials Technology Limited provided consolidated earnings guidance for the first quarter ended 31 March 2016. The board of directors of the company announced that, based on the preliminary assessment of the unaudited consolidated management accounts of the Group for the three months ended 31 March 2016 and the information currently available to the Board, the Group is expected to record a moderate net profit for the three months ended 31 March 2016, as compared to a slight net loss for the same period in 2015. The slight net loss for the three months ended 31 March 2015 was mainly due to a portion of the professional fees and expenses for the listing of Company's shares being charged to the Group's consolidated statements of profit or loss and other comprehensive income for the three months ended 31 March 2015.

The expected moderate net profit for the three months ended 31 March 2016 was mainly due to the Group's receipt of a monetary award in the sum of RMB 2.0 million from in the first quarter of 2016 for successful listing of Company's shares on GEM in December 2015.