San Miguel Brewery Hong Kong Ltd. provided consolidated earnings guidance for the six months ended June 30, 2015. The board of directors of the company reported the shareholders of the company and potential investors that based on the preliminary review on the latest available unaudited management accounts of the company and its subsidiaries, the group is expected to incur a consolidated net loss as of 30 June 2015 as compared to the net profit of the group for the same period in 2014. The board considers that the net loss is mainly attributable to: (i) the volume loss due to the non-renewal of the distribution agreements with Anheuser-Busch InBev China Sales Company Limited and Anheuser-Busch InBev International GmbH & Co KG in 2014 as disclosed by the company on 15 October 2014.

(ii) The operating costs associated with the sales and marketing operations of the affected products are sustained, redirected and reinvested in the development of new premium/craft brands in the company's portfolio. It is a key business strategy of the company to maintain a broad portfolio of brands.