The board of directors of Loudong General Nice Resources (China) Holdings Limited announced that, based on the preliminary review of the consolidated management accounts of the group and the information currently available to the board, the group is expected to record a substantial increase in the loss attributable to the owners of the company for the year ended December 31, 2015 as compared to that recorded for the year ended December 31, 2014. Based on the preliminary information currently available to the Board, the losses were primarily attributable to the continuous decrease in selling price of metallurgical coke, amidst a slowing global economy and a tepid domestic market in China; the decrease in production and selling volume of the metallurgical coke; the income tax expense aroused from the trading segment; impairment losses is proposed to be recognized in relation to the tangible assets of the manufacturing coking plant; and possible impairment of goodwill in relation to the subsidiaries and associates acquired by the group during the years 2014 and 2015. The impairment loss is a non-cash accounting treatment in accordance with Hong Kong Financial Reporting Standards and it has no effect on the cash flow for the group's operation.