China Culiangwang Beverages Holdings Limited announced earnings guidance for the six months ended April 30, 2015. The company expects loss for the six months ended 30 April 2015, which would result in a net loss attributable to owners of the Company for the year ended 30 April 2015. Notwithstanding the decline in the Group's results in the second half of 2014 or 2015, the Group is expected to record a decrease in loss attributable to owners of the company as compared to the loss of approximately RMB 474.7 million recorded for the year ended 30 April 2014.

The Board believes that the expected loss for the second half of 2014/2015 as compared to a net profit for the first half of 2014/2015 was mainly attributable to the following reasons: decrease in gross profit margin; provision for impairment loss of assets in relation with the Group's fresh produce and processed products; and net loss from arising from changes in fair value of other financial liabilities.