Da Ming International Holdings Limited provided earnings guidance for the year ending December 31, 2016. The board of directors of the company announced that the company and the preliminary assessment by the company's management with reference to the unaudited management accounts of the Group for the ten months ended October 31, 2016, the Group is expected to record a net profit for the year ending December 31, 2016 as compared with a net loss for the year ended December 31, 2015, which reflected a very substantial increase in net profit. The Board considers that the expected improvement in the overall results of the Group for the year ending December 31, 2016 as compared with the year ended December 31, 2015 was principally due to the following reasons: there was an increase in the sales volume and processing volume of stainless steel and carbon steel processing services for the ten months ended October 31, 2016 as compared with the ten months ended October 31, 2015. In particular, the increase in the sales volume and processing volume of carbon steel processing services were more than 60% and 70% respectively; the market price of both stainless steel and carbon steel raw materials rose steadily during the ten months ended October 31, 2016; and contribution from new equipment and newly opened processing centre.