Xinyi Glass Holdings Limited provided consolidated earnings guidance for the year ending December 31, 2016. Following preliminary review of the currently available information which includes, but without limitation to, the unaudited management accounts of the Group for the eleven months ended 30 November 2016, the Board informed the shareholders of the company and prospective investors of the company that the amount of the consolidated net profit attributable to the equity holders of the Company for the year ending 31 December 2016 is expected to increase by approximately 40% to 55%, when compared with the Net Profit for the year ended 31 December 2015. The Directors consider that the significant improvement in the Net Profit for the year ending 31 December 2016 is attributable to the following principal factors: the reduction in the cost of sales for float glass business as a result of the lower energy cost, stringent cost control measures implemented by the Group and the benefits from the economies of scale achieved by the Group with increased production capacity; the high growth of sales volume in the float glass businesses; and the substantial increase in the share of profit generated from Xinyi Solar Holdings Limited.