Xinming China Holdings Limited provided group earnings guidance for the six months ended 30 June 2017. The board of directors of the company announced that the group is expected to record a net loss attributable to the owners of the company for the six months ended 30 June 2017 as compared to the profit attributable to the owners of the company for the corresponding period in 2016. The turnaround from profit to loss is primarily attributable to the decrease of approximately 92.9% in the gross floor area of the residential and commercial projects delivered in the first half of the year as compared to the corresponding period in 2016. Such decrease was mainly due to the fact that the transfer procedures of real estate of new sales project, Hangzhou Xinming·Children's World Project, is expected to be completed by the end of the year and the advances from customers can only be booked as income upon the formal delivery of the real estate to clients.