Zhong An Real Estate Limited provided earnings guidance for the year ended December 31, 2016. The board of directors of company informed shareholders and potential investors that the group expects to record a substantial decrease in its profit attributable to the equity holders of the company for the year ended December 31, 2016 as compared to the corresponding period in 2015. The Board considers that the expected decline in results performance is mainly attributable to, among other things: an interest income of approximately RMB 116 million from interest-bearing loans to a joint venture in 2015; a gain on disposal of 33% indirect equity interest in a joint venture for approximately RMB 126 million in 2015; and a fair value gain upon transfer to investment properties of approximately RMB 797 million in 2015. The Board expects, as a result of the increase in recognized property sales in 2016: revenue in 2016 increased by more than 70%; and gross profit in 2016 increased by more than 30%.