The board of Directors of Cheuk Nang (Holdings) Limited informed the shareholders of the company and potential investors that the Company together with its subsidiaries is expected to record a substantial increase in profit attributable to the owners of the Company for the six months ended 31 December 2017 as compared to that for the six months ended 31 December 2016. Although the Group's revenue and gross profit for the six months ended 31 December 2017 approximately HKD 35.4 million and HKD 22.6 million respectively, decreased substantially as compared to those for the six months ended 31 December 2016 approximately HKD 1,667.9 million and HKD 1,362.0 million respectively, the expected increase in profit attributable to the owners of the company for the six months ended 31 December 2017 is mainly due to change of fair value of the Group's investment properties for the six months ended 31 December 2017 approximately HKD 984.2 million, for the six months ended 31 December 2016 loss of approximately HKD 21.0 million; reduce in income tax expenses for the six months ended 31 December 2017 approximately HKD 451.5 million, for the six months ended 31 December 2016, HKD 868.5 million; reduce in administrative expenses for the six months ended 31 December 2017 HKD 28.4 million, for the six months ended 31 December 2016: approximately HKD 66.1 million. The decrease in revenue and gross profit and the increase in the fair value of investment properties were the result of the change the properties under development for sale in Shenzhen to investment properties to earn rental income.