The board of directors of Tiangong International Company, Limited announced that the company expects to record a significant decline in the group's profit for the twelve months ended 31 December 2015 as compared to the same period in 2014. The decline was primarily attributable to the decrease in demand due to the slowdown in China's economic growth during the year; the depreciation of euro which affect the export revenue of the group; and the decline in the global average selling price in steel products.