The board of directors of Wing Lee Property Investments Limited informed the shareholders of the company and potential investors that based on a preliminary assessment of the unaudited management accounts of the Group for the year ended December 31, 2013 and a draft valuation report for the Group's investment property portfolio as at December 31, 2013 prepared by the Group's external valuer, the Group expects to record a substantial decline in profit for the year ended December 31, 2013 as compared with that for the corresponding period in 2012. Such substantial decline in profit was mainly attributable to relatively less increase in changes in fair values of the Group's investment property portfolio for the year ended December 31, 2013 than that for the corresponding period in 2012 which reflects the general market conditions of the commercial retail and residential investment property market in Hong Kong. Nevertheless, as the net increase in fair value of the Group's investment properties is a non-cash item and the business of the Group is in the long-term investment and leasing of properties, the Board does not expect any material adverse effect on the operations of the Group.

Excluding the net changes in fair value of the Group's investment properties, the Group would still record a profit for the year ended December 31, 2013 as there was a decrease in other expenses for the year ended December 31, 2013 as compared to that for the year ended December 31, 2012.