Silverman Holdings Limited announced that based on the preliminary assessment of the group's unaudited management accounts for the year ended 31 December 2013, it is expected that there would be a significant deterioration in the operating results of the group for the year ended 31 December 2013 as compared to that of 2012. Based on the information currently available, the group's profit for the year ended 31 December 2013 is expected to decrease significantly due to (i) the decrease of average selling price of the group's textile products as a result of the weak international and domestic economy in 2013, (ii) the continuous increase of the production costs and (iii) the increase of applicable income tax rate of a subsidiary as a result of its loss of High and New Technology Enterprise status.