The board of directors of Uni-Bio Science Group Limited announced that, based on a preliminary review and analysis on the unaudited consolidated management account of the Group for the financial year ended 31 December 2017, the Group is expected to record a substantial increase in loss for the year ended 31 December 2017 as compared to a loss of approximately HKD 55,727,000 recorded by the Group for the year ended 31 December 2016. Such substantial increase in loss was mainly attributable to the impairment losses in the fair value of the Group's intangible assets generated from the development of pipeline products and product technology in the past. Due to the recent changes in the regulations of the pharmaceutical industry in the People's Republic of China and changes in the competitive landscape of the Group's pipeline projects, including a number of new players successfully entered into the market, the Group has therefore made relevant adjustments to the sales forecast of the current pipeline projects. In addition, the Board has decided to direct all the existing resources to develop an advanced formulation according to the Group's next-generation development plan after much cogitation with weighing all the consequences of action taken.