China Fordoo Holdings Limited provided earnings guidance for the year ended December 31, 2018. For the year, it is expected that the Group may record a loss attributable to the shareholders of the Company for the year ended 31 December 2018 as compared to the profit for the year ended 31 December 2017. The expected loss was mainly attributable to the effect of a significant decline in Group's revenue and gross profit due to the Group's consolidation strategy on its retail outlet network and the decrease in wholesale orders as a result of the termination of distribution relationships with some of the Group's distributors who had slow repayment history, and the recognition of an impairment loss on goodwill, which was arising from the acquisition of the menswear retail business in the PRC in 2017. The impairment was mainly due to the fact that the financial performance of the retail business was less than expected for the year ended 31 December 2018.